Intraday Market Thoughts
Another Short Long Combo in Gold مضاربة الذهب على الإتجاهين
Jan 18, 2023 17:38
Here is another example of taking advantage of our anticipation of the familiar pattern in $40-50 declines off Gold's tops. We already demonstrated how this worked in late December here. Yesterday, we entered a short around 1913, targetting 1900, while we retained our 1919 long targetting 1926/7. It's all good to say "gold should extend higher", or "time for a pullback", but the challenge is to implement ideas into trades. Since November, gold made $40-$50 pullbacks in 6 occasions, respecting a simple classic trendline support. Here it is below.
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