So Like stated in the last post, I made an Entry in Gold at 1278.2 and EU at 1.16350.
I don't know why I trade EU this time as well, maybe because why not as they both go like twins.
Target's remain 1322 1355 so in EU aim the as well.
Two Big trades that I hope go well.
I stated that I think we will break 1282 today. At first, I was thinking about sell, but level change after close save me from it as one level pointed out a lot of new things!
And seems we broke 1282. My Pending order at 1284.00 is triggered as well!
This can still be tricky trade guys, I am not counting on simple things when it comes to gold! But this thing was slow and took a long time! And the break of 1282 is important for the Gold bull.
I have two big entries 1278.2 and 1284, + that I will keep buying every daily close with 0.1 lot until targets are reached.
Good Luck, and trade safe.
P.S Remember one thing 1254 is a must + that checking the breakouts seems that 1228 became valid too. If Gold decided to go up now we know it will come down. Either from 1305 either from 1357, but it will. I don't know what will cause Gold to come so much down again, but those following know that I may pick a bad entry for target's but targets are reached
So be prepared for these moves and use BE once possible and trail the stops.
As I don't really know is Gold yet ready to GO, it broke 1282 but it could do the trick - opened the gate up, and shoot down to reach the target down there at 1254, I don't know. That is why I manage this well and properly to survive if so.
That's all from me.
As well honestly I would like to see first monthly Move down for a better bull, again to 1254. So far the rejection after 1282 break was stable. I described what could be the trick and calculated my risk to be prepared for it.
If Gold goes down to 1254 I will be 34% down. It may sound overleveraged but I do believe we need to start to move up for upper targets. I am just waiting for gold to get to know will it tag that 1254 now or will it leave it for later. But we need to go up
Have a great weekend!
Can you give us some idea about hedging in gold in proper way?
If I would have 100k account and at 1254 I would say I'll be 10% down that means that my open positions would be 10k$ down at that level.