Gold. Gotta love it. It's so honest and fast paced.
XAU/USD & XAG/USD - Gold & Silver Traders Thread 55,272 replies
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DislikedI believe your fib scale has a couple of mistakes the normal full scale would be
0 14.6 23.6 38.2 50 61.8 78.6 86.0 94.2 100Ignored
DislikedShort Trade follow up:
Trade still valid in 4H time frame.
Took some heat yesterday, but no demand above the 200 sma 4H, spiking and can't close above it, bulls should start to feel uncomfortable, seeing they can't push higher above the BBL...
Breakdown level for adding shorts to the trade is closing below 1371.90 in the next 4H.
So far for this trade:
Maximum Favorable Excursion is: +$13.7
Maximum Adverse Excursion is: -$10.00
Have patience, the grass will be milk soon enough.Ignored
Dislikedbeen shorting as from 1420, looks wise to positioning now, thanks for your views, as always greatIgnored
DislikedI couldn't start to short before because price action was clearly long, and I wouldn't fade gold's bullish trend, but with the price action on January 4th breaking the 4H trend, imho it's clearly inviting shorts to take their chance with objective signals on the chart.
We'll see, but it wouldn't be the first time that a strong trend stop and start a deep pull back / reversal just at the start of a new year...Ignored