Hi all,
This is my first post on TradingView.
I’m here to share my thoughts on market movements. I’m still a student of the market (and always will be), and I look forward to learning from the experienced traders out there.
BRICS dollarization isn't going anywhere, as the group disagreed on using a single country’s currency. The dollar strengthened after President-elect Donald Trump won the US election. Gold remains a safe haven for many investors, and countries are heavily invested in it. The current indecisive market direction could lead to a short-term downside for gold if the dollar remains strong.
XAUUSD GOLD
This is my first post on TradingView.
I’m here to share my thoughts on market movements. I’m still a student of the market (and always will be), and I look forward to learning from the experienced traders out there.
BRICS dollarization isn't going anywhere, as the group disagreed on using a single country’s currency. The dollar strengthened after President-elect Donald Trump won the US election. Gold remains a safe haven for many investors, and countries are heavily invested in it. The current indecisive market direction could lead to a short-term downside for gold if the dollar remains strong.
XAUUSD GOLD Trade active
I initiated a short position at 2640, risking 20 pips with a stop loss at 2660. This is a short-term swing trade, and my take-profit target is 2540.Note
I will move my stop to breakeven if Monday's opening prices remain stagnant between 2660 and 2620. I may even close my trade entirely.Note
Some action is happening with Gold today during the Asian session. I'm widening my risk for this trade, with a new stop loss set at 2673. I’m not opening any new positions in Gold.Note
The reason for this is that I feel it might pop above 2660 and then experience a sell-off right after.Trade closed: stop reached
Stopped out of my trade.
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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.