2 SCENARIO FOR GOLD BEARS! I will only not be shorting big (only short scalping), instead i will wait until this bottom to long big!
my bottom is 1243 or lower. this is then followed by a strong bull till 1340-1360
$1243 is 61% retracement from 1200 to 1315
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This will make a higher low, it can go as low as $1224 and as high as 1243
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This can also be in play if we see support at 1263
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I DO NOT RECOMMEND TO SHORT! best strategy is to buy on strong support, hard to tell where the bottom is atm. but 50-61-78% retracement is possible.
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i will be long or short long term, i will be scalping the range,
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*i will not LONG or SHORT!
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will be scalping the range, long & short with small lots until trend is more clear
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short scalp 0.2 lot from 1295.23. tp= open, sl=b/e sl
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trading the range, short from 1298 until 1271 or so. might long from there for $10-15
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my retracement targets are 1263, then 1243
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holding my shorts. 1.1 lot atm :D
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Ronnee
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Um, not for scalping,,more up to Brexit vote, r
Ronnee
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Hi Loii, I'm looking for a goodish entry to sell..would I be best wait until it is below this level ie 82-78 before entry as this has Hugh support,, after here the support and resistance, seems much weaker.?? Would appreciate your valued opinion ..cheers Ron NZ
DanielAnthony
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what tool do you prefer to create a price channel? thx
Loii
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my brain and 2 parallel lines lol
DanielAnthony
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give me the details, of your trading style :D
PP-Guy
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I caught three coming up at 1216.2. What a enlightening experience due to the path PM's trend. I am content with the profit banked and the experience will ensure I capture more later. Thanks Loii for your input and "warrior" spirit!!
marketpundit
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Hi All! If you do not mind letting me, may be others as well, know what financial instruments do you use to short this move? Options,ETF's, something else? Just for this particular trade. Your response is greatly appreciated! Thank you kindly!