Gold short
Currently long on Gold for a filler trade up to the 61.8% fibo level. To get long now wait for 50% of the current H4 candle and this entry will suffice.
Onto the matter of the short. As you can see on gold there is a trippple top liquidation, usually meaning the market is now not ready to move higher.... Buy the rumor and sell the news is what has transpired today with the release of the CPI print at 2.9%. The downside is wide open with little resistance down to 2386 area. The markets story is chopping and changing according to data releases, being on top of data is NB in this climate :)
Short Confluences:
-61.8% Fibo
-Intra Key Level
-Fundamental driver(As mentioned above)
-Possible Silver alignment
The Trade:
Entry- 2464
SL- 2470.50 (65 pips)
TP1- 1:2.5 (162.50)
TP2- 1:4 (260)
TP3- 1:6 (390) or leave as runner till 2390 area to hedge longs.
Trade safe, catch you later traders ▲
Onto the matter of the short. As you can see on gold there is a trippple top liquidation, usually meaning the market is now not ready to move higher.... Buy the rumor and sell the news is what has transpired today with the release of the CPI print at 2.9%. The downside is wide open with little resistance down to 2386 area. The markets story is chopping and changing according to data releases, being on top of data is NB in this climate :)
Short Confluences:
-61.8% Fibo
-Intra Key Level
-Fundamental driver(As mentioned above)
-Possible Silver alignment
The Trade:
Entry- 2464
SL- 2470.50 (65 pips)
TP1- 1:2.5 (162.50)
TP2- 1:4 (260)
TP3- 1:6 (390) or leave as runner till 2390 area to hedge longs.
Trade safe, catch you later traders ▲
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