jangseohee

Resistance that tells me to sell, not referendum

COMEX:GC1!   GOLD FUTURES
84 3 1
On 24 Nov, I highlighted a sell cluster at 1200. Needless to say, i shorted at 1201.
RESISTANCE = Downtrend channel resistance + Horizontal resistance at 1200!
Now after only few days, especially today, this Swiss Referendum cause gold             price to gap down!

Now ask yourself honestly, do you think gold             price tumbles due to technical channel resistance or because of Swiss Referendum.

Since this is a swing trade, i have took all profits at 1145.

If price continue to freefall when US market opens, there is a possibility of gold             going to the channel bottom for support ~1113.
I too should take profits but I will let my shorts ride a bit longer.
Reply
jangseohee glennjoy1
can take partial profit!
Reply
jangseohee glennjoy1
which is why i took full profit first
Reply
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