buy gold again! fakeout!
Updated
Here we are again with another chance to buy into gold with the fake break of the rising wedge in oversold conditions on the hourly charts. Nice 3 candle reversal play. We can expect it to test up to $2008 again
Gold is still trading above its long term trend line though and I expect it to take out its highs fairly soon as long as this trend line remains intact.
As an experienced trader the best advice I can give for trading is stay with the trend, dip buying wherever possible, rather than thinking the top might be in and holding shorts for too long. I'm out of shorts here and buying again
Gold is still trading above its long term trend line though and I expect it to take out its highs fairly soon as long as this trend line remains intact.
As an experienced trader the best advice I can give for trading is stay with the trend, dip buying wherever possible, rather than thinking the top might be in and holding shorts for too long. I'm out of shorts here and buying again
Trade closed manually
We had a little pop here for some slight profits before the stop was hit. I'll wait and try again once the price action improves again
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.