GOLD / Short Term Sell setup

FX:XAUUSD   Gold / US-Dollar
1272 looks pretty damn strong.

Trade ist aktiv: Well, Since Gold crawled up to 72 I opened Sell at 1272.15 but with SL just 1.5$ higher because 72 needs 1$ break, so no point to hold it more if it goes up.
I am in Longs, so if it drops from now to my area of interest, I may become lucky without being 34%. So I am using this just for hedge purposes
Kommentar: without being 34% down**
Kommentar: Out of hedge.
I'm waiting to close my sell from months ago @ 1260. Had a chance few weeks ago but did take that small loss. Give some profit after all that headache lol
The banker-bots are enjoying your idea. I guess you mean long in this idea to confuse them, right?? ;)
TheZabisyu Viking83
@Viking83, No. It is the actual possible sell setup. It is not a secret that I still do want that 1254 + we have a new month and 1254 would be the monthly key level and if so that would be the first move down which again is healthy for the bull.
I was prepared for a break of 1282 and down, which I stated as a possible trick - open the gate and dump. I am not selling myself, I just keep an open-mind view even though I am bull here.
My take is that we will break previous L 1260 and then start the real upward move, because as you may know we have a lot of peeps waiting for panic selling or whatever it is once 1260 is broken, so why not double the shorts and face the reversal? I am waiting and will see what's on the cards.
Like said at 1254 I will be 34% down + I will have 2 more triggered entries 1257 1254. My comfort zone will end below 1250 and I definitely don't want that.
+2 Antworten
Viking83 TheZabisyu
@TheZabisyu, I have the feeling that the overall sentiment is quite bearish and that is what gives me a bullish outlook here. You never see any calls about 1400 anymore. Everyone sees 1250, 1235, 1225, 1210 etc. And max upside @ 1300, so all are prepared to short there if we get there. Last year in the long consolidation @ the top everyone expected further breakout to upside but the exact opposite happened. To me the pattern looks like accumulation of longs and sentiment resetting of whipsaw. You can always hear the story; "down till FOMC", dollar to 100 etc :) Lets see what tomorrow brings.
+1 Antworten
thank you, great analysis!
Thanks TheZabisyu!
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