For the majority of this week, gold was holding around the 1650 zone. Finally it presented an opportunity to for me to enter a short position, offering a 2.5:1 R/R.
I targeted the 50 ema on the daily chart, as this was a reversal (counter trend) trade, which took profit a few hours later.
Currently, the markets are extremely volatile due to the media reports on the virus. My advice is if you are not experienced, wait until this has all blown over before taking any positions!
Have a great weekend!
P.S
If you want to learn more about how I trade, drop me a DM on here or on IG @ProsperousTechnician!
I targeted the 50 ema on the daily chart, as this was a reversal (counter trend) trade, which took profit a few hours later.
Currently, the markets are extremely volatile due to the media reports on the virus. My advice is if you are not experienced, wait until this has all blown over before taking any positions!
Have a great weekend!
P.S
If you want to learn more about how I trade, drop me a DM on here or on IG @ProsperousTechnician!