That time of the month again, shorting gold
Updated
Hello folks,
been a while since i planned my gold trades and while some might be intuitive it's always better idea to plan carefully.
Since my last update some gold made another run for the 1290s, beginning of June, after somewhat steady May with a lot of bears actions keeping it from reaching 1280. The wave is over and we are reaching downwards, with a target ~1230 to load before rocketing to the 1300s in July and August. We did similar trade for May, but here it is again.
Overall the last trade went well, but the structure of the trades could be done better.I didn't trade gold during the British elections, but did close beautiful trade yesterday on the rate hike. However, I did miss 3 other trades by less that 0.50 cents and it was all downloads from there. Overall I made an lost, which brings me back here. Always plan your trades carefully. I'll try to find the time to share with you guys.
I'll probably publish another idea before that but that might be the short before the long. I'm considering adding physical too.
entry: 1267-1260
tp1: 1244-1245
tp2: 1233-1232
tp3(?): 1220-1218
Happy trading folks.
been a while since i planned my gold trades and while some might be intuitive it's always better idea to plan carefully.
Since my last update some gold made another run for the 1290s, beginning of June, after somewhat steady May with a lot of bears actions keeping it from reaching 1280. The wave is over and we are reaching downwards, with a target ~1230 to load before rocketing to the 1300s in July and August. We did similar trade for May, but here it is again.
Overall the last trade went well, but the structure of the trades could be done better.I didn't trade gold during the British elections, but did close beautiful trade yesterday on the rate hike. However, I did miss 3 other trades by less that 0.50 cents and it was all downloads from there. Overall I made an lost, which brings me back here. Always plan your trades carefully. I'll try to find the time to share with you guys.
I'll probably publish another idea before that but that might be the short before the long. I'm considering adding physical too.
entry: 1267-1260
tp1: 1244-1245
tp2: 1233-1232
tp3(?): 1220-1218
Happy trading folks.
Trade closed: target reached
First TP.Trade active
Just general picture for those who might fall into the bear trap. It seems that there is small momentum up, maybe because of the big drop in GBPUSD but the general trend keeps being bearish in this channel. I wouldn't worry before it escape out of it. Maybe 2 weeks more ?Trade closed manually
We took profit at TP1, but we did escape the bear trend.Note
The upper trend broke down, levels are still valid, but I'll use them for buy once it hits 1230 and 1218, keeping an eye on it.Trade closed: target reached
One trade did reach tp3, 1210, bit more patience would be nice.
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