I am a believer longer term in gold, but here, we have to pay attention to the economic conditions as well as the signals AND the mathematical calculations based on price volume and volatility. When we have that much convergence, it makes the trade one of significantly higher odds for success, and that is a thing for which we strive (Ex. Risk Reduction).
Therefore, a short position here with a reasonable SL to your tolerance is a valid option for a trade with far better than normal offs of success.
Therefore, a short position here with a reasonable SL to your tolerance is a valid option for a trade with far better than normal offs of success.
Trade closed: target reached
Small loss here but hefty gain on the other two add ons to this position
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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.