RussellFitzsimmons
Short

Thoughts on a gold short position...

TVC:GOLD   CFDs on Gold (US$ / OZ)

My thoughts on GOLD

Formed a nice doubletop earlier on in the previous few months and broke through our yellow resistance line to form a new high for the year, before coming straight back down below our yellow support and resistance zone, based in technicals i think we will see a retest of our yellow resistance line and then a possible rejection in line with previous fluctuations. Will wait for confirmation of rejection before entering a position as gold can be quite volatile in comparison with currency pairs I am used to trading.
Trade closed manually: re entered after getting stopped out closed out very early for profit
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