Price divergence, top of ascending trendline, exhaustion wedge formed at the top and psychological resistance level above (1320). Great potential to short gold
Trade attivo:
Positions still active. Price invalidated my setups. I believe these bullish spikes is due to the raising uncertainty regarding the US Dollar and american stock market.
I still keep my initial stop-loss at 1330, I believe that the current bullish momentum may be pretty short-lived and that we will need to visit the lower 1300-area before the bullion gains more bullish momentum and start rallying.
I will continue keeping you guys updated on this post...
I still keep my initial stop-loss at 1330, I believe that the current bullish momentum may be pretty short-lived and that we will need to visit the lower 1300-area before the bullion gains more bullish momentum and start rallying.
I will continue keeping you guys updated on this post...