After the late surge of the previous week we felt very comfortable with the position but throughout last week price retraced so much that we moved our Stop to Break Even. On Friday we came within a spread of getting stopped out. Luckily for us price then bounced and we hope that next week price will resume to the upside which is supported by the Weekly chart picture which ended in an inside pin bar. Our targets are at the 38.2 and 50 Fib retracement levels of the recent downtrend.
I am bullish, we are likely to trail part of the position hoping for a larger uptrend.
TARGETS ARE 1100, 1120,1140
I am bullish, we are likely to trail part of the position hoping for a larger uptrend.
TARGETS ARE 1100, 1120,1140
Trade active
Comment:
Guys Our Stop Loss is ALWAYS CLOSING BASE (EOD).
Trade closed: stop reached:
GOLD: after just missing out on getting stopped out at Break Even on Friday in our STTS Long, we were hoping for an upside resumption yesterday, as discussed in yesterday's , which sadly did not happen. Today's sell off indeed took us out of this trade at Break Even. We may see further downside today.
Technical Recommendation: Exited at Break Even. Re-assessing.
Technical Recommendation: Exited at Break Even. Re-assessing.
