Expecting small correction in gold, ~2-4%. Same pattern on GC1!. I'd expect this pattern to resolve before the end of January.
GLD has pretty liquid options!
GLD has pretty liquid options!
Trade closed: stop reached:
Stopped out; using stops with options might be tricky to do without always getting stopped out. This kind of move against me is pretty standard for wedge plays. Still figuring risk management out.
Trade active:
Opened position again at a lower price.
Trade closed manually:
I am now a disciple of the church of the Ichimoku cloud, and it is bullish. I think I should stop following a single pattern irrespective of anything else.