Currently in trade.
I went in too early... but holding
I went in too early... but holding
Trade active:
Still holding... waiting for NFP and Fed speech tomorrow... if everything goes as planned Gold will initiate an incline to around 1425 as the DXY starts dropping back to the 88 level during the month of Sept. This will resume the rally in the miners stocks as well as it will help USOIL to climb.
but it still looks like printed a clear reversal on Sept 1, 2016 - Many retails closed and SL's got hit since we went to "pre-brexit" leves on the day before... We then had a some serious some covering since indicators in gold showed the bull coming once gold (xauusd) broke 1336.... off course the Fed intervened and they manipulated the dollar and gold when back down... so did miners..
Friday was a horrible day for leveraged ETFs since we had a global market crash... Miners went down since they're includd in those indexes, gold barely moved on Friday.
With only 5 Business days left until the " NO HIKE" announcement... we should be ok to average down our position on any dip we get this week.
Note that odds for an interest rate hike, went down from 55% 2 weeks ago, to 25% on friday.. and to 15% yesterday...
TP hasnt change, but I recomend you to take profits as following
33% at $32 to guarantee some profits.
25% at $41
25% at $45
17% at $47
Good luck