It was a nice day on the short side at GoldStreet. The menu was toasted bull.
We are getting close where I take profit on my shorts ( from 1315 to 1300$) But not opening long yet - I will explain later why
In the night we had a false swing in the Asian session ( price run above the previous 3 day's high). A lot of Asian bulls were buying the breakout. They had to cover their longs later 20-25$ lower.
I set this post as a "short" though I don't recommend to short it. It's simply too late.
The time when I was going short was at this post:
So we are heading down the question is how far.
The daily cycle could bottom at the 50 EMA this week(red) or could bottom next week at the FOMC if there is a rate hike (blue).
I've made 70$ on this short trade so I don't want to risk to get caught in a bull run out of the DCL. So I'm closing the positions between 1300-1315$. I will wait the FOMC meeting before opening any long position.
I will not open this long at the exact bottom, but at least I dont have to survive a drawdawn from 1300 to 1260$ if Yellen's slaves vote for the rate hike next Wednesday.
We are getting close where I take profit on my shorts ( from 1315 to 1300$) But not opening long yet - I will explain later why
In the night we had a false swing in the Asian session ( price run above the previous 3 day's high). A lot of Asian bulls were buying the breakout. They had to cover their longs later 20-25$ lower.
I set this post as a "short" though I don't recommend to short it. It's simply too late.
The time when I was going short was at this post:
So we are heading down the question is how far.
The daily cycle could bottom at the 50 EMA this week(red) or could bottom next week at the FOMC if there is a rate hike (blue).
I've made 70$ on this short trade so I don't want to risk to get caught in a bull run out of the DCL. So I'm closing the positions between 1300-1315$. I will wait the FOMC meeting before opening any long position.
I will not open this long at the exact bottom, but at least I dont have to survive a drawdawn from 1300 to 1260$ if Yellen's slaves vote for the rate hike next Wednesday.
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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.