GOLD: Week 8 ending
Updated
Hi Guys,
following my previous post which I strongly reccomend to click & play in order to watch the move unfold and especially to see how price tend to cut you out if you don't get the right timing.
Price moved between the two SMAs for the last time on Wednesday before coming down pushed by the 103 yesterday.
Data reports and news helped Gold exit those boundries and break supports to unfold the move towards 1303, which is a strong support area for the uptrend commenced on Aug 16.
A nice time for positioning was yesterday past 15:00 when price was still above the 451SMA with stop just above the pushing 103SMA. It was still a risk but limited and with bearish momentum building up the risk rewards was in our favour.
Thank you for your support and for sharing your ideas.
Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
following my previous post which I strongly reccomend to click & play in order to watch the move unfold and especially to see how price tend to cut you out if you don't get the right timing.
Price moved between the two SMAs for the last time on Wednesday before coming down pushed by the 103 yesterday.
Data reports and news helped Gold exit those boundries and break supports to unfold the move towards 1303, which is a strong support area for the uptrend commenced on Aug 16.
A nice time for positioning was yesterday past 15:00 when price was still above the 451SMA with stop just above the pushing 103SMA. It was still a risk but limited and with bearish momentum building up the risk rewards was in our favour.
Thank you for your support and for sharing your ideas.
Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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