My my. I pity those who went short and did not cover those shorts. I was short few times but covered all and stopped even trying. it looked clearly that Gold as about to move much high. Frankly, I hate to pick tops and bottoms. it is not my game. I tried and won't do it again. Who knows, it might be reversal of the down trend. In this case I will be waiting for signal. still might reverse and drop to $1000. nobody knows what this thing is up to, but considering indexes are dropping and confidence is tanking Gold might reverse. It is second month up for Gold.
Chikot posted: It is at monthly resistance but momentum is strong. Who knows. It is waiting time.
I agree. The resistance is around 1180 - 1185. I, personally, wouldn't open new longs before a breakout above that level.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.