Once again XAU has unsuccessfully rallied through 1281 only to come back to the support @1275. The spot gold price continues moving in sync with the 10 Yr Note (on price) and EUR/USD and then I would expect downside pressure to continue.
I did close my short position @1270 due the news in Saudi Arabia that a missile had been intercepted by the military at Riyad´s airport but the impact of the event has faded away very quickly as no damage was actually caused to any facility or person down there.
Disclosure: I entered short @1276 SL @1286 TP @1254 again today and will reassess at the COMEX close to decide whether or not I keep the position open.
I did close my short position @1270 due the news in Saudi Arabia that a missile had been intercepted by the military at Riyad´s airport but the impact of the event has faded away very quickly as no damage was actually caused to any facility or person down there.
Disclosure: I entered short @1276 SL @1286 TP @1254 again today and will reassess at the COMEX close to decide whether or not I keep the position open.
Hi Guys,
ReplyDeleteSorry, I was a bit busy with work the last few days, did not get too much time to trade.
I've been for the last 3 positions, shorting at the upper range of 1274-78 and taking profit at at the lower end of the range 1264.68
I'm not taking any longs on the low end as this will be against my strategy of trading with the general trend.
I'm short again at 1278.84, SL at 1286.8 with a target of 1258.8
I'm still waiting for the full bearish confirmation.. every day .... tik tok tik tok.. hahaha
The strategy sounds very good to me.
DeleteGood work
Delete