Hello traders. We are in some uncharted territory with gold presently. We are within $20 of the ATH. So for me, I am looking for a possible sell from the area marked on the chart. I believe we have news today here in the U.S. at both 8:30 am and 10 am ( EST). So if I take a sell, depending on lower time frames, $2013 / 2015 would be an area of interest. But I am looking to see if the 2210 area holds as resistance for gold to start a possible move down. Lastly, I would like to point out that gold could easily shoot right up, but on the weekly chart, gold opened and only went down a few dollars. So I am looking for potential shorts.. But I trade the trend, so whatever the market deals, I will try to work to my advantage. Big G gets all my thanks and a daily shout out. Let's see how things play out. Pre NY volume starts in 45 minutes or so.. A lot of the time, NY will correct what happened during the overnight.
Trade active:
I caught the sell move down from 2214.37 Currently we need to stay Below 2211.31 for gold to continue down. News was good for the U.S. Dollar today, although it is manipulated by the Feds. Scured profit, SL at my entry point and a runner is running. Big G gets all my thanks. Happy Thursday. I am done for the day.
Pip Whisperer