Gold FuturesLong
GC Long on Pullback to 2385
Updated
Gold had a very nice couple of days last week to break out of the descending wedge. It has rejected off of the 2400 level twice now, but I see no change in news or market conditions that would affect it dramatically in the next 24 hours (though, you know, famous last words...)
Gold loves to eat liquidity and then bounce. Currently there are large orders sitting at or just below 2385. I'm going to play a bounce off of this level to continue the pullback. Taking profit at 2394 (3:1 RR) because I'm not sure what it will do at the 2400 level again.
Gold loves to eat liquidity and then bounce. Currently there are large orders sitting at or just below 2385. I'm going to play a bounce off of this level to continue the pullback. Taking profit at 2394 (3:1 RR) because I'm not sure what it will do at the 2400 level again.
Trade closed: stop reached
It pulled back farther than I thought! Still thinking that GC will push higher, so will wait for a new entry.
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