A TAKE ON - GOLD (US$/oz)
Expecting Gold to make one more move up and retest the 1340-1360 levels before coming back down to the 1130. It 's still a little early to say whether it will be a Flat correction or not but I'm definitely expecting a move to the downside. The possibility exists that it won't go for the 5th wave up and will just drop from where it is now. Whatever the case may be the overall bias is definitely bearish not bullish for the recent future according to my analysis. Any buys should be very short term in my opinion.
My personal details:
Short @ Entry: 1280 or 1360, SL: 1400, TP: 1130
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
My personal details:
Short @ Entry: 1280 or 1360, SL: 1400, TP: 1130
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Komen:
bearish bias remains...
