Hi traders, it's been long since my last post. Over the past few weeks i have been speculating the gold market.
On a technical basis, there is a bearish wedge forming, and just last night my sell limit at 1710 got activated. I took the 2nd attempt at shorting @ 1707 when there was a short retrace prior to Asian open.
Overall outlook is that gold will minimally hit support at 1695, a further possibility is 1675 if markets extend.
*This is not trading advice, trade at your own risk.*
On a technical basis, there is a bearish wedge forming, and just last night my sell limit at 1710 got activated. I took the 2nd attempt at shorting @ 1707 when there was a short retrace prior to Asian open.
Overall outlook is that gold will minimally hit support at 1695, a further possibility is 1675 if markets extend.
*This is not trading advice, trade at your own risk.*
Trade closed manually:
Trade closed at 1688, due to stop loss. 220pips profit