Gold is dumping, en route to profit target.I am on fire. All my swing trades (short EURSEK BTCUSD XAUUSD) are dumping as expected :D
Gold is accelerating down, after forming a bearish pennant, and the target is 1300, which is (almost) my initial target that was the 1295 area.
It is testing the 20MA now, which might slow it down a bit, but I honestly do not expect much support here.
Once Gold gets to 1300 it might be time to set a tight trailing stop, I will update once we get close what I am doing.
Funny, all my trades went and made bearish pennants, these are so easy to trade, maybe I should have added to my positions:
PS: I don't even know what categories to mark this idea as, where is "gut feeling" and "momentum analysis", all they have is all the TA stuff Bollinger Bands Bill Wiliam indicator (no idea what this is) the chart patterns etc that are taught to retail traders that never make any money, and 1 option fundamental analysis.
Well, let's go for a vague "Trend Analysis" then :p
This is so easy, these kind of trades take a while thought.
Just make sure not to exit too early or not to forget to take profit / trail stop once gold gets close to that profit area.
