Short on $Gold: High Time, Low Risk, Big Reward

15 Agu

Well, here we are again with gold! Sorry, folks, but the gold chart keeps popping up on my screen, and it’s just too tempting to ignore. So, I figured, why not share my insights? As a trader, it’s important to keep those technical analysis skills sharp, so here we go—I’m eyeing a short position from this point. The resistance isn’t the strongest, but it’s holding up well enough that it could push the price back down to the base. The risk-reward ratio is too sweet to pass up right now. Volume is low, so we might see some consolidation before any big moves.

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Note: These insights are based purely on technical analysis.

16 Agu

Catatan

Update: The market reached around the 2450 level, hitting our first target. Afterward, it generated buying momentum, especially during the London session. We might see the bulls taking over today. Personally, I don’t pursue trades on Fridays, as the market closes on weekends, and given the current world affairs, it’s not a wise move to hold positions over the break.