GOLD SETTING UP FOR ANOTHER LEG DOWN
Updated
Fundas - After President Trump called off the meeting with Kim Jong Un last week. NK's response was that they are still willing to meet. I anticipate the conversation will continue this week and markets will assess each statement as they come. News on this and/or the Trade wars will affect havens mostly so i have an eye on weaker Gold as things become clearer
Techs: Gold broke a key level under the 1300 barrier, consolidated, pushed on the NK news and got rejected into supply. I think this can continue down to 1275 or lower. With that said i will be looking to start in short on any pushes into the 1302-1305 area if there is more rejection with a stop above 1310 and ride it down.
Happy Trading
Techs: Gold broke a key level under the 1300 barrier, consolidated, pushed on the NK news and got rejected into supply. I think this can continue down to 1275 or lower. With that said i will be looking to start in short on any pushes into the 1302-1305 area if there is more rejection with a stop above 1310 and ride it down.
Happy Trading
Trade active
Started in short at 1300.50 slightly before preferred entry but price action was a bit tough before.Trade closed manually
Locking in profits with G7 meetings over the weekend. +8point winner
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