Gold had an impressive rally since the March crash. Broke ATH , then regressed back into the range and below 2011 high.
My take is the following:
- until we reclaim 2011 high on the monthly, then the short idea is valid.
- confirmation upon a monthly close (December) below 1825.
Expecting us to revisit the breakpoint area (origin of the pump) around the 1580$ zone where I believe it'll find support while keeping the trend intact (Higher Low)
My take is the following:
- until we reclaim 2011 high on the monthly, then the short idea is valid.
- confirmation upon a monthly close (December) below 1825.
Expecting us to revisit the breakpoint area (origin of the pump) around the 1580$ zone where I believe it'll find support while keeping the trend intact (Higher Low)
Trade active:
This is going perfectly. Almost at target!
Scalps is one thing, a big swing position is another. Always keep the HTF in mind especially with "heavy" markets