Short setup in gold
Updated
Hello traders,
I am expecting these two scenarios in gold based on the corrective structure which gold is drawing the last 6 weeks. Option 1 is a triangle which should finish in the 1299-1301 area. Option 2 is a flat correction which is more complicated and should finish somewhere in 1307/9 - 1314/6 area. I'll keep updating as we go. My mid term targets are 1255, 1234, 1209.
I am expecting these two scenarios in gold based on the corrective structure which gold is drawing the last 6 weeks. Option 1 is a triangle which should finish in the 1299-1301 area. Option 2 is a flat correction which is more complicated and should finish somewhere in 1307/9 - 1314/6 area. I'll keep updating as we go. My mid term targets are 1255, 1234, 1209.
Note
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Lets see which way we go Trade active
First short activated at 1299 Note
SL is now on BE. Risk free trade. Tgs 1280, 1272 Trade closed manually
Trade closed at 94 because North Korea fired a ballistic missile again.Note
Pending shorts removed for now. I'll update this idea if anything changes.
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