What I personally want to see is a daily close above 1282. If I would get such close I would personally buy more.
We have a multi-week range rover and it is very boring.
The sell in the last idea was for hedging purposes because I cannot know what could happen, so if it would drop from 1272 I wouldn't be 34% down at lower levels and I would have a lot more cushion for a maneuver. But after dealing with 1272 for some time it was broken by 1$ and there was no reason to hold wider Stop than that.
The failure to close ( daily ) above 1282 can send Gold down again!
In the given situation 1254 is the target but like I said and like you may know it is not an obligatory to reach it right away, I had and still have pending orders there and I will take it as a bonus. If 1254 is not hit and Gold travels up, that means that First Monthly move will not be considered to be down. So in any case somewhere up there I will look for sell opportunities and I will target 1254.
Right now it is just Patience - patience and one more time patience. I am doing small intraday trades up n down just because we are in range and intraday trading during the range is pretty easy. Like for example on another account, I have sell now from 1282 and if we keep the range mode on then that will bring some cash. Other than that My long-term main account trades target the same targets I mentioned before.
The purpose of having at least 2 big entries is because I will close one of them at 1305 that is the point where Gold can come back down and the other one I will trail stop if we pass 1305 and continue.
We have a multi-week range rover and it is very boring.
The sell in the last idea was for hedging purposes because I cannot know what could happen, so if it would drop from 1272 I wouldn't be 34% down at lower levels and I would have a lot more cushion for a maneuver. But after dealing with 1272 for some time it was broken by 1$ and there was no reason to hold wider Stop than that.
The failure to close ( daily ) above 1282 can send Gold down again!
In the given situation 1254 is the target but like I said and like you may know it is not an obligatory to reach it right away, I had and still have pending orders there and I will take it as a bonus. If 1254 is not hit and Gold travels up, that means that First Monthly move will not be considered to be down. So in any case somewhere up there I will look for sell opportunities and I will target 1254.
Right now it is just Patience - patience and one more time patience. I am doing small intraday trades up n down just because we are in range and intraday trading during the range is pretty easy. Like for example on another account, I have sell now from 1282 and if we keep the range mode on then that will bring some cash. Other than that My long-term main account trades target the same targets I mentioned before.
The purpose of having at least 2 big entries is because I will close one of them at 1305 that is the point where Gold can come back down and the other one I will trail stop if we pass 1305 and continue.
Comment:
Although we don't have a close above 1282, we have a clear first move down. That can mean something.
Comment:
25 minutes of work = 1:44 min of lofi house.
youtu.be/Il0a-vtCXD0
youtu.be/Il0a-vtCXD0
Comment:
Nice. 10$ move in the pocket. At least intraday trading account is having a green day.