GOLD - Sell on Rally - Please read idea in comments
PLAN:
Looking to sell gold between 1530-1550.
Ideally, closer to 1550 and with a weekly RSI bearish divergence.
TARGET: ~1500.00 or close to it.
If gold closes above/breakthroughs 1550, I will close my trade. So if you take this trade, please manage your account actively.
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Gold can go down prematurely, in that case, this idea will be null and I will not enter the market.
So please be patient. If gold doesn't go above 1530, move on to the next opportunity.
And if you want to know how I trade Gold in the following weeks/months. Please follow and see the updates on this chart/future charts.
**I am aware of the bullish flag pattern forming and the fundamental bullish strength of gold but I am hoping for a false breakout of the flag, to re-test previous highs and then for gold to correct down**
Looking to sell gold between 1530-1550.
Ideally, closer to 1550 and with a weekly RSI bearish divergence.
TARGET: ~1500.00 or close to it.
If gold closes above/breakthroughs 1550, I will close my trade. So if you take this trade, please manage your account actively.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gold can go down prematurely, in that case, this idea will be null and I will not enter the market.
So please be patient. If gold doesn't go above 1530, move on to the next opportunity.
And if you want to know how I trade Gold in the following weeks/months. Please follow and see the updates on this chart/future charts.
**I am aware of the bullish flag pattern forming and the fundamental bullish strength of gold but I am hoping for a false breakout of the flag, to re-test previous highs and then for gold to correct down**