ONE SMALL PIECE OF A BIGGER PUZZLE
Next resistance can be witnessed around $1325 and $1340-Hence we don't exactly know from which level gold will start it's major decline it will be an stupid idea if we will open long position in gold and set our target at around $1370-The upside is limited to around max$50 move however downside is enormous to around more than $400 move-If our stop level will reach we will simply close our position and will reopen the position at higher level-Please keep in mind we don't need numerous positions to be profitable instead one big position in our portfolio can add enormous gain to our portfolio-
comment below if you believe adding long position in the portfolio could be a better move rather than going short and explain your reasoning behind it-
UPDATE-We have took the entire profit out of the table from our silver trade at $15.700 which is mentioned below and making profit of about 1500 USD,However our risk free trade gold has been closed Automatically with no profit and no loss-we have reopened the gold trade
comment below if you believe adding long position in the portfolio could be a better move rather than going short and explain your reasoning behind it-
UPDATE-We have took the entire profit out of the table from our silver trade at $15.700 which is mentioned below and making profit of about 1500 USD,However our risk free trade gold has been closed Automatically with no profit and no loss-we have reopened the gold trade
Komen:
The way USDX has declined today yellow metal should easily reach to around $1240-it is showing some sort of weakness in buyers
