As I had explained in my previous post, it was likely to see an 'emotional high' in these instruments, followed by a sharp decline.
After this break down, all these instruments are at a major support level once again, and in sync too.
Notes:
I'd get out of shorts here and maybe flip long in a few days.
Gold:
It might have some more room to fall, but if it makes a higher daily high tomorrow, it is possible to see a rally.
If short, cover half and trail the stop to today's high after the close perhaps.
BTCUSD:
I went long with a small risk position, considering a 10% downside risk as worst case scenario. I used spot, have no stop, and no margin. I also bought ETH with a 20% downside tolerance here.
The plan is to capture the upside in BTC and ETH once they resume the weekly uptrends they are in, and avoid losses in a choppy enviroment in gold and notes. The trades have been good so far, so try to protect profits first.
We will see volatility, so it's good to be prepared.
Good luck!
Ivan Labrie.
After this break down, all these instruments are at a major support level once again, and in sync too.
Notes:
Gold:
If short, cover half and trail the stop to today's high after the close perhaps.
BTCUSD:
I went long with a small risk position, considering a 10% downside risk as worst case scenario. I used spot, have no stop, and no margin. I also bought ETH with a 20% downside tolerance here.
The plan is to capture the upside in BTC and ETH once they resume the weekly uptrends they are in, and avoid losses in a choppy enviroment in gold and notes. The trades have been good so far, so try to protect profits first.
We will see volatility, so it's good to be prepared.
Good luck!
Ivan Labrie.
Comment:
BTC and ETH longs in profit already.
Comment:
Not bad.
