I have been long Gold since the beginning of June, having entered this current wave at 1238. I closed 1 position at 1290 and one at 1305. With 1 position left, yesterday I moved my protective stop up to 1272, just under the 38 fib retracement of this wave.
Honestly, I expected the stop to be hit today as the 23 fib was breached so hitting the 38 fib is a no-brainer. But that didn't happen, or at least not yet. . And I don't love how the high today hit the midpoint of this upward channel. But I will let this final position ride until I do get stopped out.
Honestly, I expected the stop to be hit today as the 23 fib was breached so hitting the 38 fib is a no-brainer. But that didn't happen, or at least not yet. . And I don't love how the high today hit the midpoint of this upward channel. But I will let this final position ride until I do get stopped out.