Hello Friends,
Gold is back at the triangle boundary. Gold is very dollar correlated. Dollar may be continuing to complete its current rounded turn, but it may also suddenly rally through to new highs. Currently it appears gold has a good chance of rebounding and I am currently long again...I seem to enjoy knife catching lol. However, I am using trendlines and alerts etc. I will not hesitate to take my profits. At the same time, I am also willing to let them run because this could be the start of the next leg up. If not, we will have a partial decline to contend with and if we decisively break the triangle that may be a clear short with a long duration and potentially very high profits.
Gold is back at the triangle boundary. Gold is very dollar correlated. Dollar may be continuing to complete its current rounded turn, but it may also suddenly rally through to new highs. Currently it appears gold has a good chance of rebounding and I am currently long again...I seem to enjoy knife catching lol. However, I am using trendlines and alerts etc. I will not hesitate to take my profits. At the same time, I am also willing to let them run because this could be the start of the next leg up. If not, we will have a partial decline to contend with and if we decisively break the triangle that may be a clear short with a long duration and potentially very high profits.
Note
full disclosure I exited long a few minutes ago. May re-enter but that was a short term trade anyway. I don't have confidence for long-range action at the moment.Note
Looks like we're going down. I want to be shortNote
Gold has conclusively broken to the downside
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.