Good as Gold? Trade idea could Gold fall? Short
Highly speculative as traditional indicators only suggest neutral movement instead of correction!
However, all markets seem very jittery and prone to exaggerated movements currently, so could Gold suddenly reverse and ignore normal trend of falling when stock market rises with good economic data is released and rising during this current period of uncertainty/ Is it still possible for Gold to hit target of 1776 this month? Hell yes but a major correction possible as the World struggle to regain normality,
So entry would be after initial market opening for Monday order completions, however, expect any move below 1723 to be significant and lead to sell off all the way to TP1 at 1712, tp2 1701 and tp3 1680. Therefore entry after retest of 1723 and the ride down this move could take 1 day to 4 days to complete. Will it begin 15th June or 16th June is only consideration? Remember, if taking this trade on, the risk, if a recommendation required should be more than 5% and move your stop loss after day 1 of trade to accommodate a risk free trade.
This is a volatile market so losses are part of trading and the downtrend looks promising from here.
If you make money from this trade tell your friends and contact me by dm, We at IM Academy would love to teach you more. Come and join us.
Catch more pips today!
However, all markets seem very jittery and prone to exaggerated movements currently, so could Gold suddenly reverse and ignore normal trend of falling when stock market rises with good economic data is released and rising during this current period of uncertainty/ Is it still possible for Gold to hit target of 1776 this month? Hell yes but a major correction possible as the World struggle to regain normality,
So entry would be after initial market opening for Monday order completions, however, expect any move below 1723 to be significant and lead to sell off all the way to TP1 at 1712, tp2 1701 and tp3 1680. Therefore entry after retest of 1723 and the ride down this move could take 1 day to 4 days to complete. Will it begin 15th June or 16th June is only consideration? Remember, if taking this trade on, the risk, if a recommendation required should be more than 5% and move your stop loss after day 1 of trade to accommodate a risk free trade.
This is a volatile market so losses are part of trading and the downtrend looks promising from here.
If you make money from this trade tell your friends and contact me by dm, We at IM Academy would love to teach you more. Come and join us.
Catch more pips today!
Comment:
Sorry for any typos as done on my phone. Interesting morning already so mind the gaps ;-)
