Gold needs time to form a bottom. Even if you are bullish (and probably already long) you need to be prepared for at least a fight at 1400-1410. If 1400 zone fails to defend gold from dropping further, there is nothing in between there down to the flush low at the bottom.
It is not just how accurate your analysis is that makes you profitable, it is how you manage the trades when they gone wrong that keeps you out of trouble. Always trade with a plan.
ContentReviewEuro Ready For a Steep PullbackS&P at Middle of NowhereGold Reached Minimum Upside TargetBitcoin Killing Time Before Next Move10-Year Note Yield Testing Weekly Trendline SupportBig Picture SummaryReviewEuro tagged the resistance ...
ContentReviewEuro Shaping Up for More UpsideS&P Reached the Minimal Quarterly Expansion TargetGold Consolidation ContinuesBig Picture SummaryReviewEuro held onto the original down channel resistance as support and challenging the up channel ...
This week the funniest news around the world is that Canada has finally sold off almost all its gold reserve. I use the word funniest because phrase like “most important” ...
It is reported that certain financial institutions in Asia are selling their gold holdings to cover their margin cost on some speculative "investments". Hence the flush down actions in gold ...
ContentReviewEuro Searching for a BottomS&P Correction Over?Gold Complex Top in the MakingBitcoin Survived10-Year Note Yield Target ReachedBig Picture SummaryReviewEuro trying hard to hold the channel expansion target with extreme swings ...
Gold Has A Tough Fight Ahead
4-hour chart of gold below.
Gold needs time to form a bottom. Even if you are bullish (and probably already long) you need to be prepared for at least a fight at 1400-1410. If 1400 zone fails to defend gold from dropping further, there is nothing in between there down to the flush low at the bottom.
It is not just how accurate your analysis is that makes you profitable, it is how you manage the trades when they gone wrong that keeps you out of trouble. Always trade with a plan.
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