Gold [1-3 days view]
Updated
Short Gold
Entry: 1291.50
SL: 1303.40
TP: 1247.75
Global markets are currently in a risk off environment given the recent trade-war escalation tweets by Trump. This also is in line with safe-haven currency such as JPY outperforming this week.
Technically, market reacted below long term descending trednline resistance.
Price is also currently testing what I would call the natural MA of the market.
MACD shows a bearish crossover, however, do note that it is still within bullish territory.
Update: Trade was triggered overnight, and market has moved quite a bit as expected. I've trailed my stop loss to protect the trade and some profits. This trade is now risk free.
Entry: 1291.50
SL: 1303.40
TP: 1247.75
Global markets are currently in a risk off environment given the recent trade-war escalation tweets by Trump. This also is in line with safe-haven currency such as JPY outperforming this week.
Technically, market reacted below long term descending trednline resistance.
Price is also currently testing what I would call the natural MA of the market.
MACD shows a bearish crossover, however, do note that it is still within bullish territory.
Update: Trade was triggered overnight, and market has moved quite a bit as expected. I've trailed my stop loss to protect the trade and some profits. This trade is now risk free.
Trade closed manually
Trailing stop taken out. Position closed.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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