Well, finally the correction has shown up.
Huge volume waiting at 1320/17 (61.8 fib for the last run up), 1300, 1290/88 levels.
Bonds going down, yields up, there will be a divergence with yields that will have to correct when gold starts going back up again and bonds halt their decline but some time.
I'm long again at 1330, cost opportunity is higher than downtrend probability.
Let's see how it turns out.
Cheers!
Huge volume waiting at 1320/17 (61.8 fib for the last run up), 1300, 1290/88 levels.
Bonds going down, yields up, there will be a divergence with yields that will have to correct when gold starts going back up again and bonds halt their decline but some time.
I'm long again at 1330, cost opportunity is higher than downtrend probability.
Let's see how it turns out.
Cheers!
Note
Ok, in order to average down, I'm waiting for 1306/1300 and further 1290.I'l well positioned at the 1317 level. This might have another leg down to the previously mentioned levels.
Let's see! Enjoy the ride!
Trade closed: target reached
Nailed it! closed at 1350 my long term trades. Long term trades keep rolling. Now waiting for a new place to buy. 1330 could be again a nice spot.
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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.