NEUTRAL ON GOLD FOR NOW -STILL WAITING FOR CONFIRMATION
Though I still have a bullish bias for Gold but I am still going to be patient and wait for confirmation whilst keeping my mid open for any bearish sign to sell.
A lot of traders loose money because of lack of patience and sometimes fear though.
I see a W-Pattern formation on that has already played out in 30 minutes time-France which took gold price to above 1935. Right now, I am waiting for confirmation to continue buying gold with a bodily closure above 1935.
I am personally risking 50 pips on a Buy-Stop order with entry @ 1935.5. if price refuses to breakout and continues a downtrend, I will be safe as my trade set up will not get triggered and that gives me an opportunity to be a little more patient and watch out for any possible reversal signal and wait for price action to tell me whether to sell or not.
Patience pays a lot in trading.
Trade carefully.
A lot of traders loose money because of lack of patience and sometimes fear though.
I see a W-Pattern formation on that has already played out in 30 minutes time-France which took gold price to above 1935. Right now, I am waiting for confirmation to continue buying gold with a bodily closure above 1935.
I am personally risking 50 pips on a Buy-Stop order with entry @ 1935.5. if price refuses to breakout and continues a downtrend, I will be safe as my trade set up will not get triggered and that gives me an opportunity to be a little more patient and watch out for any possible reversal signal and wait for price action to tell me whether to sell or not.
Patience pays a lot in trading.
Trade carefully.
FINSPOT ACADEMY
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