CLOSING GOLD BUY - Read below if interested in WHY
Got out of the trade I posted yesterday with nice profits overnight for these reasons here:
- I have a rule which I use as a joke at the same time, I got from Marvel- Iron Fist(Danny Rand). It's a saying that is true, and being in the army years ago, when it comes to be disciplined I'm a robot with no emotions pointing and shooting, executing as soon my "sixth sense" and conditions gives me an alert. It's dangerous but I don't doubt myself after all I've been through in life. I know what I'm capable of.
The saying is: "Doubt leads to death".
FINALLY THE REASONS:
- Gold is trading in a downtrend channel since 1763.
- Broke the uptrend support on May 26th
- It's trading between strong resistance level at #1720 ~ # 1723
BUT...INDECISION
- It's entering(maybe) the up-trend again, trying to break the downtrend channel resistance.
- Broke EMA 200 resistance as well.
- Daily chart shows a PIN Bar candle and bullish one indicating buy force up to #1734~#1737 (SUPPLY AREA MARKED) and my initial target from yesterday.
AND...
Since riding this downtrend with GOLD I've been expecting the re-test of #1680 SUPPORT before GOLD going up again, it got me in this doubt if I should hold the trading even because of FUNDAMENTAL REASONS today.
So WHY the hell I got out of the trade?
Because: "Doubt leads to death" hahaha.
Fundamentals, fundamentals...there's going to be more volatility and uncertainty.
I'm closing a happy week trading, maybe I will enjoy the sun at the beach this afternoom and see what happens later on.
- I have a rule which I use as a joke at the same time, I got from Marvel- Iron Fist(Danny Rand). It's a saying that is true, and being in the army years ago, when it comes to be disciplined I'm a robot with no emotions pointing and shooting, executing as soon my "sixth sense" and conditions gives me an alert. It's dangerous but I don't doubt myself after all I've been through in life. I know what I'm capable of.
The saying is: "Doubt leads to death".
FINALLY THE REASONS:
- Gold is trading in a downtrend channel since 1763.
- Broke the uptrend support on May 26th
- It's trading between strong resistance level at #1720 ~ # 1723
BUT...INDECISION
- It's entering(maybe) the up-trend again, trying to break the downtrend channel resistance.
- Broke EMA 200 resistance as well.
- Daily chart shows a PIN Bar candle and bullish one indicating buy force up to #1734~#1737 (SUPPLY AREA MARKED) and my initial target from yesterday.
AND...
Since riding this downtrend with GOLD I've been expecting the re-test of #1680 SUPPORT before GOLD going up again, it got me in this doubt if I should hold the trading even because of FUNDAMENTAL REASONS today.
So WHY the hell I got out of the trade?
Because: "Doubt leads to death" hahaha.
Fundamentals, fundamentals...there's going to be more volatility and uncertainty.
I'm closing a happy week trading, maybe I will enjoy the sun at the beach this afternoom and see what happens later on.