Gold is showing weakness. I think it makes sense to try a short position with the first target at 3000, and it would be perfect if we reach 2956.
Set the stop loss at 3034.
The trade isn’t exactly top-tier, so I’m entering with a small position. However, I like the small stop-loss size and the potentially large upside if the price moves in my favor.
I don't really like shorting and trying to catch corrections in an uptrend, but I have a feeling it's worth a try.
Set the stop loss at 3034.
The trade isn’t exactly top-tier, so I’m entering with a small position. However, I like the small stop-loss size and the potentially large upside if the price moves in my favor.
I don't really like shorting and trying to catch corrections in an uptrend, but I have a feeling it's worth a try.
Trade active
I close half of the position here - 3009.And set the stop loss for the remaning part at 3015.
Trade closed: stop reached
Close the remaining part here.Very nice profit!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.