Gold retrace, Still Bearish
Updated
Our gold call has followed with a swift 250 pips in profit. Please take partial profits if you have been following along and keep that SL trailing. It seems as though we will have a retrace in gold, either to the 1500 level or 1504ish. If currently not in a trade you can look to short at these levels or take the aggressive route and go long and then short as i am. After this level is hit, we will most likely see a nice down move on gold, heading towards our 1475 level. We also have some heavy USD news tomorrow so hopefully that will be our catalyst downwards. And remember, with big moves like these, its important to always sit on your hands and not get ahead of yourself.
Note
Perfectly shot up to our level. Longs should have been closed if taken, and shorts should be up 80-90+ pips. Move SL to breakeven and with the support under us, i would even take off 25% profit, and re-enter a smaller position if we do see a small bounce
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