[GOLD] Jan 15, 2020 - ALuoTradingJournal

Recently gold made a new high.

We are currently waiting for a bearish bar in the weekly chart to appear before we can take the action to short it from high.

However, if any price action reaches the price, we can try out some short positions, depending whether you are trading short, medium or long term position.

Short term trade 1544 Short, $4-$5 gold, which means an aim at 1540 or 1539 for tp, depending on where the support level is.

Medium term trade 1569 resistance level, the aim for medium will be the same as long term which is 1525.

Long term trade, any price that goes above 1580 and a resistance occurs, we can give it a shot to trade short.

If price goes over 1590, we will identically believe that this trade has failed. 1590 will be the final destination for short position trade.


Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market in going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at own risk.