GOLD. Playing the Bounce.
Updated
Alright Trading View.
As i give away the trades for the Quarter we have a opporutnity in Gold. So lets breakdown how and why.
DXY- has given risk assets an absolute headache over the last few weeks, as it viciously continues this upward swing in price. Dissimenting gold prices recently.
Not only Gold was affecting but also US equity markets as well.
Dollar strength showed signs of toping last week after the BOJ spoke of a intervention in the currency price.
We are speculating a bump in Gold prices back to 1850 in the short term, And are looking to play that bounce exactly.
No Macro view on this asset considering the market enviroment. But the short term outlook probablity are very reasonable.
Massive Technical Support as we responded off this level numerous times before.
1815-1825 Long Entries.
1800 -1810 SL- Becareful at 1810 everybody has there stop at 1810. Dont get picked off.
1840-1850 -TP.
As i give away the trades for the Quarter we have a opporutnity in Gold. So lets breakdown how and why.
DXY- has given risk assets an absolute headache over the last few weeks, as it viciously continues this upward swing in price. Dissimenting gold prices recently. Not only Gold was affecting but also US equity markets as well.
Dollar strength showed signs of toping last week after the BOJ spoke of a intervention in the currency price.
We are speculating a bump in Gold prices back to 1850 in the short term, And are looking to play that bounce exactly.
No Macro view on this asset considering the market enviroment. But the short term outlook probablity are very reasonable.
Massive Technical Support as we responded off this level numerous times before.
1815-1825 Long Entries.
1800 -1810 SL- Becareful at 1810 everybody has there stop at 1810. Dont get picked off.
1840-1850 -TP.
Trade closed: target reached
Woe Got Gapped into the exit today before the market truly opened.
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