Trade background:
GOLD is back up at key resistance level after testing the mid trend line of the bearish channel. Nevertheless, GOLD remains bearish, at least as long as the stock market & the bond yields continues to rise. Assuming that this will be the case in the coming weeks a bearish swing seems very likely. Combined with the fact that volatility, a big move is coming soon.
Trade Details:
Positioning: Short
Time frame: Daily
Length of Trade: 2 days to 1 week
Entry: Between 1510.00 to 1500.00
Stop: 1505.00
Exit: 1460.00 & 1450.00
GOLD is back up at key resistance level after testing the mid trend line of the bearish channel. Nevertheless, GOLD remains bearish, at least as long as the stock market & the bond yields continues to rise. Assuming that this will be the case in the coming weeks a bearish swing seems very likely. Combined with the fact that volatility, a big move is coming soon.
Trade Details:
Positioning: Short
Time frame: Daily
Length of Trade: 2 days to 1 week
Entry: Between 1510.00 to 1500.00
Stop: 1505.00
Exit: 1460.00 & 1450.00
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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.
Related publications
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.