Major trendline broken. 200 Moving average broken. 6 big rejections at 1220 zone. 1210 zone broken strong to the downside. A retest of the 1209 zone, would give me the short opportunity. Play it save guys have a great week guys, pips for breakfas lunch and dinner!!!!!!!!!
Could be a great trade, but I would wait until it breaks down below 1199... of course, getting in now lets you put a tighter stop, so it's all about your own style, I guess. :) Good Luck with this one
lluiszardoya
⋅
@JasonCampbell, well, this move has a high probability, and If I sell at 1209 and you sell at 1998, I'm in a lot more profit than you. your probability will be much higher. but I just feel confident about this trade.
JasonCampbell
⋅
@lzardoya, I don't often trade gold, which is likely why I would hesitate. If you feel confident, then no reason to wait for those profits:)
Slayton23
⋅
Nice risk reward. I think Gold is a longterm short. The Fed will most likely raise rates at least twice this year and Gold will get destroyed by a strong dollar and stock market. I don't see a catalyst for gold to keep rallying. Any thoughts?
lluiszardoya
⋅
@Slayton23, I think the exatly same as you. but this last rally dosn't look right to me. I am still short. Even though in the picture has hit the tp. I am still holding the trade.
What about you?