As with NGAS and commodities in general, I'm pretty biased with GOLD. My strong belief is that GOLD should way higher considering the state of economical in developped country. However our system manages to keep it down and injecting more and more "false" money. As long as we believe in this monkey money, everything will be under control and GOLD could mess around 1000/1500$.
Whatever, that's not the point today. On daily we have a break of TDI under RSI 40, but GOLD is known for powerful short reversal, so it's never a bad idea to enter a trade on a break. But NEVER enter a daily trade on a non-close candle bar!
This trade is only 4H trade, not daily!
I would love to see a rally to 1250 and it's pretty consistent with my other XAGUSD idea.
Whatever, that's not the point today. On daily we have a break of TDI under RSI 40, but GOLD is known for powerful short reversal, so it's never a bad idea to enter a trade on a break. But NEVER enter a daily trade on a non-close candle bar!
This trade is only 4H trade, not daily!
I would love to see a rally to 1250 and it's pretty consistent with my other XAGUSD idea.
Comment:
Nice take off. I will probably book some profit around 1241.
Trade active:
Closed half position@1243. SL@BE and let it run to the TP.
Trade closed: target reached:
Closed whole position @1259. Very nice trade.
