As a trader who has been in this for a couple of weeks, I'll be looking to book profits soon. Notice my stop which is set right below today's lows. (The solid red line.)
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boobooshnu
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Do you not the think the events this week will keep gold high at least for the very near future. And depending on how the latter part of this week plays out perhaps even longer?
ruli-92
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@Faizal99, I personally don't take news events into consideration when trading. I feel like anticipated news events are probably already reflected in the pricing to some extent. And it's hard to gauge how much risk you're taking when you're trading based on news events.
Notice though, I didn't sell at the time of the posting. I just put a really tight stop. So if gold went bullish and it kept going up, I would still be in.
For the record, I am often wrong when it comes to commodities. This is partially why I'm taking profits now. I don't want to risk losing what I've made.