Will Gold become less precious?
Updated
Examining the charts (technical analysis serves as a good risk management tool), my personal opinion is that Gold will drop bellow $1900 per oz. Actually, I am going short right here, with a stop loss @ $1964 and an exit profit @ $1880. I wouldn't say that this is a "long term" trade, because I estimate that such a move can happen in a short time period, given the rising volatility in the markets.
Trade active
I am moving my stop to break even plus 50 pips. The sell price was 1935.585 so the new stop loss will be @ 1936.585Note
Even if I am around 300 pips in the money, I was wrong about the duration of the trade cause I am already short for 11 calendar days, now.Trade active
400 pips in the money, yesterday night was almost 500 pips. I moved my stop "profit" to 1904. Is it fear that makes me do that? no, its the inflation in the Japan and the possibility of a stronger JPY.Trade closed: stop reached
my exit profit stop has been hit yesterday. Not a bad trade...
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.