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coincise

Gold tight range 1768-1773

Short
Gold Futures (Jun 2020) (COMEX:GCM2020)  
coincise Updated   
COMEX:GCM2020   Gold Futures (Jun 2020)
Trend Analysis Chart Patterns Gold goldtrading goldshort goldshortterm
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trendanalysis chartpattern gold goldtrading goldshort goldshortterm
Divergence detected, and price is trading within 1768-1773. Some risk-on sentiments in the JPY crosses, Fed chairman Powell passes some RIsk-on sentiments, see www.cnbc.com/2020/05...ther-depression.html

Will do a limit sell order within 1768-1773 and R1 Pivot as the SL.
Trade active:
Hit sell limit order at 1772.50, SL at 1775 - R2 Pivot. TP at 1700.
Comment:
Closed original trade, but open another trade, at 1773, and shifted the SL to 1766 as the price hit S1 pivot. Risk-on sentiments very strong in the market now
Comment:
Consolidating between 1731-1737, shifted order to 1742 to lock in some profit. No major news release till thur, and forecasts are bullish. Mon US indexes closed higher due to positive news on clinical moderna trials, and bullish sentiment from Fed Powell. Tue Asian session is following through the positive news.
Trade closed: stop reached:
Took profit at 1742
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