Analysis:
Bearish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Strong downwards trend
- Retest of a previous key level
- 38.2% fib level close by
- Downwards trendline touch
- 2k long position increase for the USD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our entry requirements have been met and our order has been filled. Currently we are short on gold looking for the USD to gain some strength in turn push the price of gold further to the downside.
Trade closed: stop reached:
Trade Closed
(-1R) Lost
After Trade Comments:
Yesterday we had some news that came out for the USD which ended up being worse then expected. This news announcement and bearish figures pushed the price of the USD down, in turn pushing the price of gold up, eventually hitting our stop loss. Whilst this news did help a few of our other trades it wasn't the same for our outlook on gold. However this teaches the importance of being hedged and diversifying your risk. Whilst we're 1R down on gold we're currently floating at +4.5R for silver! This is why we urge all of our members to look into hedge as it can help to cushion a loss. Everyone takes losses, but if you're hedged and have diversified your risk then you're able to turn these losses into winners. If you want to know more about hedging then please feel free to contact us and we'll tell you more about it and why we use it here at JPI. With that being said let's move on and see if we can find another setup to capitalise on!
Stay Safe - The JPI Team
(-1R) Lost
After Trade Comments:
Yesterday we had some news that came out for the USD which ended up being worse then expected. This news announcement and bearish figures pushed the price of the USD down, in turn pushing the price of gold up, eventually hitting our stop loss. Whilst this news did help a few of our other trades it wasn't the same for our outlook on gold. However this teaches the importance of being hedged and diversifying your risk. Whilst we're 1R down on gold we're currently floating at +4.5R for silver! This is why we urge all of our members to look into hedge as it can help to cushion a loss. Everyone takes losses, but if you're hedged and have diversified your risk then you're able to turn these losses into winners. If you want to know more about hedging then please feel free to contact us and we'll tell you more about it and why we use it here at JPI. With that being said let's move on and see if we can find another setup to capitalise on!
Stay Safe - The JPI Team