Between a weakening DX and the potential for a couple more rate hikes this year I am looking for one last push in Gold prior to a larger move down. Keep in mind this is an October contract GCV7 chart as this overall play may push into the next couple of months to play out.
Enter Short: 1267-1270.7
SL: 1276.5
TP1: 1245.2
TP2: 1232.8
TP3: 1219.8
If playing multiple contracts, I advise taking partial profits at each target and re-adding shorts as appropriate.
Comments and questions welcome. Good trading all!
Enter Short: 1267-1270.7
SL: 1276.5
TP1: 1245.2
TP2: 1232.8
TP3: 1219.8
If playing multiple contracts, I advise taking partial profits at each target and re-adding shorts as appropriate.
Comments and questions welcome. Good trading all!
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I still think this is a good trade but.. SL was breached by 4 cents and so closes the chart...