Thanks for viewing.
Just a super short term trade shared.
Local red box was area that a short was entered based on EW. Plus RSI over 70 and MACD showing signs of weakness. Traders tend to still be in a "sell the rallies" frame of mind.
Little volume spike recently, but as the traders come on line today, they will likely sell off and/ or enter short.
No point yet in mind to take profit (as this was done at the request of someone else asking for my opinion). Will have to look for signs the sell-off is slowing or ending based on candle patterns, support levels, volume etc.
Of course I'm a huge fan of gold on the medium and long term.
Just a super short term trade shared.
Local red box was area that a short was entered based on EW. Plus RSI over 70 and MACD showing signs of weakness. Traders tend to still be in a "sell the rallies" frame of mind.
Little volume spike recently, but as the traders come on line today, they will likely sell off and/ or enter short.
No point yet in mind to take profit (as this was done at the request of someone else asking for my opinion). Will have to look for signs the sell-off is slowing or ending based on candle patterns, support levels, volume etc.
Of course I'm a huge fan of gold on the medium and long term.
Comment:
When I started writing my trading idea it was at USD1808 :)
Trade closed manually:
Closed at 1798 a few hours ago