Am less likely to look up a symbol of what am trading as not to build an emotional reaction to the trade. Am more concerned with the story the price chart tell me. Everything that everyone knows is reflected already on the price chart. Supply and Demand tell you a story. Learn to listen to it.
In this trade, we are looking at the most popular traded ETF for Gold. The setup is one of my best trade setups.
The long-term chart (M) is in uptrend. The current chart(W) is in a downtrend mostly a correction.
Price arrives in a Demand zone on the current-chart(W); providing a low risk entrance into the trade. the STP loss is below the Demand zone. and the trade is open. Blue arrow.
The stock market is bearish, the Gold react bullish. standard relationship as the big money withdrawal out of liquid stock into a temporarily safe haven of gold. History is predictable here.
In this trade, we are looking at the most popular traded ETF for Gold. The setup is one of my best trade setups.
The long-term chart (M) is in uptrend. The current chart(W) is in a downtrend mostly a correction.
Price arrives in a Demand zone on the current-chart(W); providing a low risk entrance into the trade. the STP loss is below the Demand zone. and the trade is open. Blue arrow.
The stock market is bearish, the Gold react bullish. standard relationship as the big money withdrawal out of liquid stock into a temporarily safe haven of gold. History is predictable here.