YaKa
Short

Gold - Ultra Tactical Trade

FX:XAUUSD   Gold / U.S. Dollar
588 16 6
Try short here.

10% short 1228 stop 1250 on close.

Cheap and sound.

Make or break.

if it goes through stop on close, Gold             is probably out of the woods.
if it fails from here, next target 1000 and maybe lower.
We got the upward pop, but will that be sustained or retrace? What do you think?
Reply
YaKa PRO DaveMackay
not sure - My timing this morning was exactly wrong.
the SNB news could be important. Zero rates or even negative rates globally removes one disadvantage of gold (it does not pay dividiends or coupons)...
you have to be disciplined with the pivot... above 1236.. consider longs.. below consider shorts... and you hope it does not swing through many times.
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close today is important.. especially if below 1236 again... then check the weekly close which is more important on these yearly pivot... 2 consecutives reading the other side of it could confirm a new trend.
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Right now I am watching a 15 minute chart, appears a bit bearish and I am out of the market. US Traders are going to be in their office in a few minutes and may pound it down.. or up.....
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YaKa PRO DaveMackay
-:)
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I've only been wrong enough to wipe my account a few times....
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YaKa PRO DaveMackay
well - there are ares where you try (right or wrong)... and situations where you watch a bit...
short here could work but your time stop is tonight..
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YaKa PRO DaveMackay
Dave, I suggest you check your motivation for trading... Very important to understand what drives your actions.
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Good idea, timing a little ahead, there is wedge resistance at 1260
snapshot
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YaKa PRO look4edge
very interestig.. let me see.
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nice, so sell the resistance is the play...
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YaKa PRO look4edge
my stop on close was 1250.. probably interesting to extend risk to 1270 on close.
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will short 1250 retreat, sl at high
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YaKa PRO look4edge
it remains very tactical on pivot.
if it goes through here: the sky is the limit.
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yes, it is the case for sl, however just started short at 1255, first target 1138
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