Friday, September 8, 2017

Gold is closing down @1246 so it would better to assess the situation on Sunday to decide whether to close longs or hedge positions accordingly. Remember that NK may be a no show and then a further correcion can take place. I would have expected Gold to close at least above 1350 but it did not occur so just watch  and move your SL to breakeven if possible at the opening on Sunday. The weekly chart is very constructive but the daily chart still may correct to down to 1333. (See chart on the right). I´m long @1348 SL @1335 but I will reassess the short term outlook on Sunday too. Have a nice weekend.

13 comments:

Disclaimer: This site is not intended to provide professional advice nor to lead users to either copy or follow the trades herein posted, it is essentially conceived to share thoughts and ideas for non-professional traders and become a non-official knowledge base for individuals interested in testing and improving their own skills in the spot Gold market.