Gold retrace, or continues or breakouts.
Diupdate
Tonight is big.
The chart is self explanatory,
I have started taking out my long positions and accumulating shorts.
Though the bull run remains strong and just because of one candle down, it does not signal a crash.
TBH, there are a lot of reasons for gold to run hot in the past month, to me it was USD weakness that attracted the first wave of speculative buying and then shorts to cover.
This is a channel dating back to the summer. If it breaks upward I will take out my shorts.
The issue is that shorts need a strong dollar.
That has been stiffled by PBoC selling at night (PM me for details)
HP
The chart is self explanatory,
I have started taking out my long positions and accumulating shorts.
Though the bull run remains strong and just because of one candle down, it does not signal a crash.
TBH, there are a lot of reasons for gold to run hot in the past month, to me it was USD weakness that attracted the first wave of speculative buying and then shorts to cover.
This is a channel dating back to the summer. If it breaks upward I will take out my shorts.
The issue is that shorts need a strong dollar.
That has been stiffled by PBoC selling at night (PM me for details)
HP
Trade aktif
dxy retrace before loading up a good rally. Wait for another entry.
DXY at 100.2x- 100.3 is the range to short more gold
Komentar
Added more shorts.Closed out all longs that I had(check previous idea) on gold.
Now waiting on bearish accumulation. I will not add further shorts as much as I like this trade.
Keep an eye on CNYUSD, as manipulation can persist.
HP
Komentar
Keep an eye on CNY/USd action at night.Komentar
broke the outer wall of the bullish channel, promising but no time to celebrate yet. I don't kniw how to add charts to the comments. Do let me know, if you have the goods.
Komentar
If it goes over 38 I'm out with a gain/ (loss) of ($3) average so It'll cost me a modest amount. Nothing to fret because if it bounces off the support I can buy(once confirmed by successive closes) and make much more. I will post updates as new ideas if it does. Best of luck, don't be stubborn
Trade aktif
So as you can see it was pushed down at 38-40 resistance and died. This was rocky. Now we are under 20 so now next support is 1200, if we close at these levels.
Also someone asked me why I wait for the close. Well there are a lot of different fish in the sea, and they all operate under different schools of thought, the close is 1 way to ensure that they have spoken and that you see what they see.
Another reason is that the close meanss that the popular candlesticks are indicative of the different patterns they look for, I mostly look for strong rejections( in other words a long spike down or up), well for those you need close too.
Komentar
We have reached the first support, I took some profits, but will add them back one I see a bounce Now I got about 35$ in profit on each ounce. Not bad for a futures trader.
Trading ditutup secara manual
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