Gold - A Short Idea
Updated
(Trade this on 1Broker in my signature link for no-fees BTC-settled markets with social trading)
Gold is in an ugly bear flag after an "M" top on the weekly. I know the marketing is that precious metals are to moon, but in this market they love to dump it.
On weekly open I'm looking to see gold take out the stops in this consolidation range above $1307 to set up a short with a target under prior daily close, just above prior weekly close.
This particular setup may not work out, but with a risk/reward of 3.08 I'm content with it.
Short: $1307-$1310
Stop: $1316
Target: $1291.5
Will be a public trade on 1Broker when active. You can "copy" me on the platform as well.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
Gold is in an ugly bear flag after an "M" top on the weekly. I know the marketing is that precious metals are to moon, but in this market they love to dump it.
On weekly open I'm looking to see gold take out the stops in this consolidation range above $1307 to set up a short with a target under prior daily close, just above prior weekly close.
This particular setup may not work out, but with a risk/reward of 3.08 I'm content with it.
Short: $1307-$1310
Stop: $1316
Target: $1291.5
Will be a public trade on 1Broker when active. You can "copy" me on the platform as well.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
dafoh.org/petition-to-the-united-nations
Note
I admit I missed entering this trade amidst all the other market/Bitcoin chaos I was trading, but it actually panned out really well. 
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