At the moment of writing this update our full 250% net short positions in gold,Silver and mining stocks are well justified from the risk and reward perspective.
Conclusion-yesterday The USD Index formed a vital bottom or it's very close to it. The reverse head-and-shoulders pattern remain in while the breakout above the rising wedge formation was invalidated. This concludes that the pause we are witnessing in the precious metals sector and mining stocks is almost over or very close to being over and that another big breakdown is likely just ahead.
we will keep you informed anyway
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 14.750
Take Profit: 12.80
Stop Loss: 15.600
ASSET-GOLD
Sell limit Price: 1185
Take Profit: 1080
Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver 0.00% 0.41% -0.81% -0.88% 0.28% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
Conclusion-yesterday The USD Index formed a vital bottom or it's very close to it. The reverse head-and-shoulders pattern remain in while the breakout above the rising wedge formation was invalidated. This concludes that the pause we are witnessing in the precious metals sector and mining stocks is almost over or very close to being over and that another big breakdown is likely just ahead.
we will keep you informed anyway
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 14.750
Take Profit: 12.80
Stop Loss: 15.600
ASSET-GOLD
Sell limit Price: 1185
Take Profit: 1080
Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver 0.00% 0.41% -0.81% -0.88% 0.28% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
