Thoughts on a gold short position...
Updated
My thoughts on GOLD
Formed a nice doubletop earlier on in the previous few months and broke through our yellow resistance line to form a new high for the year, before coming straight back down below our yellow support and resistance zone, based in technicals i think we will see a retest of our yellow resistance line and then a possible rejection in line with previous fluctuations. Will wait for confirmation of rejection before entering a position as gold can be quite volatile in comparison with currency pairs I am used to trading.
Trade closed manually
re entered after getting stopped out closed out very early for profit
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.