Bounce due to Fed not hiking because of weak data point? Sell it! Bounce due to geopolitical tensions? Sell it! Bounce due to equity meltdown? Sell it! Why??!! Because the price action Sir, is telling us that. Gold is unable to sustain any upside in any sort of meaningful way. We think next big fall is coming and Fed might deliver the coup de grace and end the debate about gold touching 2000 level again. Of course we trade intermittent bounces but our long term position is always to remain short, so not to get confuse with our trade of getting long for a quick trade.
Again, volatility is something to consider for uninitiated traders and it might serve well to get short via options than shorting futures contract right away to keep the risk in check!
Again, volatility is something to consider for uninitiated traders and it might serve well to get short via options than shorting futures contract right away to keep the risk in check!