Gold Short

11 thg 8

Looking to short gold near all time highs.
Gold may drift up more in the coming weeks, if so, I plan to short the market may the opportunity present itself to us.
For this short I will need some confirmation from COT data confirming firms are indeed increasing their short positions and exiting long positions, however bear in mind gold is still being short more so by institutions than the metal is being longed. This trade will also depend largely on the Fed's rate cut decision.
Where I get accurate current and historical COT data from: cotperspective.com/commodityexchangeincgoldcommercial.html

I will be shorting from 2472
Stop Loss: 65 pips (6.5 dollars)
Targeting 2430 area

Technical Confluences;
3rd touch trendline
Key Level
Silver Alignment (refer to silver chart for zone)

Catch you later Traders ▲

12 thg 8

Ghi chú

Will looking at this trade around the CPI release this coming Wednesday. Hopefully retail will be at peak buying during this time giving institutions enough liquidity for the short.

12 thg 8

Ghi chú

Gold approaching the zone much earlier than anticipated, showing large volume, target has been reduced to 2450 area

13 thg 8

Ghi chú

Volume of previous day is very high for pre CPI. Personally closing for small loss of -30 pips.

14 thg 8

Đóng lệnh: đạt mục tiêu

Target reached, more drawdown in this trade was experienced before making the full move