Gold rally could be short-lived, watch out!
We're seeing a powerful rally for Gold the last 2-3 days, and ppl are talking about a major move higher to new highs and over the 2000 level. In my opinion, the downside is more probable in the near term, im expecting we see at least the 1400 levels before 'a possibility' of a move to new highs.
Im expecting the 1710-1725 level to hold the rally, and start a sell off that will fnally see us break the 1500 level on the 4th attempt! Short sellers beware though, any move past the 1750 will be very bullish, and at that point we shud either be 1) stopped out , or 2) finding a good level to exit the trade.
As always, look for the good risk to reward trades, plan ur entry, plan ur stops and targets, and STICK to your plan. It is the only way to trade.
Im expecting the 1710-1725 level to hold the rally, and start a sell off that will fnally see us break the 1500 level on the 4th attempt! Short sellers beware though, any move past the 1750 will be very bullish, and at that point we shud either be 1) stopped out , or 2) finding a good level to exit the trade.
As always, look for the good risk to reward trades, plan ur entry, plan ur stops and targets, and STICK to your plan. It is the only way to trade.
Labels: Gold
posted by Sam @ 5:33 PM
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