Profit-taking on Gold today. The yellow metal is trading at $1555.10, losing 0.60%. Gold price has not been able to rise above the critical resistance level in the $1568 area.
In the Thank "Gold" It's Friday - Weekly Update of Friday 17/01 my advice was:
If you are a side-watcher, do nothing and wait for an exploit above/under the resistance/support level. If you are holding a position, let the Gold chart to be your daily companion. I would place a stop loss around the main resistance/support.
This suggestion still applies. I'm monitoring Gold waiting to implement a breakout trade. If you want reduced risk and avoid whipsaws, just set an alert higher/lower than resistance/support. $2/200 pips could be right.
Investing Fellow
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
In the Thank "Gold" It's Friday - Weekly Update of Friday 17/01 my advice was:
If you are a side-watcher, do nothing and wait for an exploit above/under the resistance/support level. If you are holding a position, let the Gold chart to be your daily companion. I would place a stop loss around the main resistance/support.
This suggestion still applies. I'm monitoring Gold waiting to implement a breakout trade. If you want reduced risk and avoid whipsaws, just set an alert higher/lower than resistance/support. $2/200 pips could be right.
Investing Fellow
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
