DislikedI'm in a gold hedge and would like to get out if possible.
I have a long @ 1858 and a short @ 1849, what is best
way to get out? I now know I could have closed when gold
was down this morning around 1700. I know idea is to close
sell @ support, and then let buy run till it gets to resistance.
Thanks,
rozario173Ignored
simply releasing at a support can be dangerous because there is a risk of the price action piercing through a support. there is also a chance that you can get whip-sawed out of position. look for chart patterns not only support and resistances. a good time to release your sell might be during a pull back to a support from a rally. or you can look for bullflags. use stops!
we actually have the same predicament.
read the first page of this thread. the link that says break, test, begin break. that can help you a lot