Short Gold
Entry: 1291.50
SL: 1303.40
TP: 1247.75
Global markets are currently in a risk off environment given the recent trade-war escalation tweets by Trump. This also is in line with safe-haven currency such as JPY outperforming this week.
Technically, market reacted below long term descending trednline resistance.
Price is also currently testing what I would call the natural MA of the market.
MACD shows a bearish crossover, however, do note that it is still within bullish territory.
Update: Trade was triggered overnight, and market has moved quite a bit as expected. I've trailed my stop loss to protect the trade and some profits. This trade is now risk free.
Entry: 1291.50
SL: 1303.40
TP: 1247.75
Global markets are currently in a risk off environment given the recent trade-war escalation tweets by Trump. This also is in line with safe-haven currency such as JPY outperforming this week.
Technically, market reacted below long term descending trednline resistance.
Price is also currently testing what I would call the natural MA of the market.
MACD shows a bearish crossover, however, do note that it is still within bullish territory.
Update: Trade was triggered overnight, and market has moved quite a bit as expected. I've trailed my stop loss to protect the trade and some profits. This trade is now risk free.
Trade closed manually:
Trailing stop taken out. Position closed.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28