STOP/ENTRY/TP - XAU - SHORT ( 6% )

2022年10月31日

LUCKY Leprechaun's and the FED RATE HIKE of ( 0 . 7 5 % ) - Should assist in getting us to the Golden Take Profit. 🍀

"Priced in you say" Certainly NOT. AS per all the previous rate hikes this year. Gold will move lower. Certainly it may recover to current levels. However, the move at least to recent standout lows is assured. ⬇️⬇️⬇️
MACRO's are setting the stage and the arguments for and against haven't really changed.

- STRONG CONSUMER ✅

- INFLATION RUNNING HOT ✅

- BOND YIELDS PROVIDING AN ATTRACTIVE ALTERNATIVE TO GOLD ✅

- FED HAS AN IRONCLAD RESOLVE TO BRING BACK 2% INFLATION ✅

- RATE HIKES ARE HERE TO STAY FOR SOMETIME. ✅ (WALL STREET - just needs to finally accept it and drop the nonsense about pivoting).

The technicals help with setting the ENTRY, STOP and TAKE PROFIT no doubt. However plenty of indicators and levels have not been respected so I am looking for far better value to enter in on the trade.

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🚨 REMEMBER TO JOURNAL ALL OF YOUR TRADES - BOTH DEMO AND LIVE. IT WILL ASSIST WITH THE BACKTESTING YOUR STRATEGY 🚨

📖 USE A DEDICATED JOURNAL TO RECORD YOUR TRADING.🔥

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