Gold just did absolute madness today i did say yesterday that if gold broke 1835 to hedge or close out shorts. RSI’s upto daily are all in overbought so i expect a drop to 1840-1833 with my personal target of 1833. From there i expect a bounce for gold to push to 1880 and higher but 1880 would be my first TP.
I would like to note after looking how gold has been acting and moving during this explosive bullish run of $100 in a week i do have caution the possibility this could be a fake move and that this whole pump was a massive manipulation. So i am keeping that thought in the back of my mind as caution.
However we should trade what we see so as of now i am shorting to 1833-1840 and see if gold bounces off the new resistance turned support or breaks through it.
I think today was a very big show of making sure you have the correct and proper risk management set in place.
Trade safe people.
I would like to note after looking how gold has been acting and moving during this explosive bullish run of $100 in a week i do have caution the possibility this could be a fake move and that this whole pump was a massive manipulation. So i am keeping that thought in the back of my mind as caution.
However we should trade what we see so as of now i am shorting to 1833-1840 and see if gold bounces off the new resistance turned support or breaks through it.
I think today was a very big show of making sure you have the correct and proper risk management set in place.
Trade safe people.