Be cautious of Gold at these levels...
Since busting through the price highs of 2011, Gold has drifted lower from the most recent highs with some interesting candle closes below the lows of previous down candles.
Although I believe in the story for Gold (aka QE & other forms of currency debasement and derivative card houses) and the Gold price in the long term, as a trader, I cannot ignore the current price action at these levels.
I'm looking to reduce my exposure here and identify entries for possible short positions back to previous support levels around $1500.
Although I believe in the story for Gold (aka QE & other forms of currency debasement and derivative card houses) and the Gold price in the long term, as a trader, I cannot ignore the current price action at these levels.
I'm looking to reduce my exposure here and identify entries for possible short positions back to previous support levels around $1500.
Time is the only true currency...how will you spend yours and what value will you receive?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.