GOLD Bulls Beware

31. Juli 2020

Fantastic run on Gold, however based from a purely technical view gold has now breached all technical levels of resistance including various calculations of the Yearly R3 pivot. There are also now strong signs of bearish divergence between price and the MFI. As is this already presents an excellent Risk:Reward setup when considering a stop @ 1990. The important level to break for the 'triple-top' to be in play is a channel break below the 1950 level. Depending on how we look at it there are various short targets depending on the extent of the pullback.

5. Aug. 2020

Trade geschlossen: Stop wurde erreicht

Unfortunately the fundamentals prevailed here and Gold pushed higher. Luckily we had a tight stop. Thats the nice thing about large R:R trades, when it fails it doesn't hurt much but when it succeeds you have a smile on your face. Trading Psychology 101