Posted by racerick on 11th of May 2022 at 07:22 am
Gold futures slightly undercut an old R line, now support S at
around 1835 during the night. So happens the 50ma on the
weekly and the 200ma on the daily were both right at there too,
something that's kind of rare to see, and something that gold
usually has at least some reaction to individually. Pretty
good odds we were going to get reaction between all 3, caught it at
1832.70 coming off 1830.6 low. Felt strong enough to put a 5 pt
stop on it. Nice to wake up to a 20 pt move up. Now begs the
question whether to just sit on and hope we have low in on gold for
awhile and let it ride or sell. Unfortunately only took one
contract.
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Gold futures slightly undercut an
Posted by racerick on 11th of May 2022 at 07:22 am
Gold futures slightly undercut an old R line, now support S at around 1835 during the night. So happens the 50ma on the weekly and the 200ma on the daily were both right at there too, something that's kind of rare to see, and something that gold usually has at least some reaction to individually. Pretty good odds we were going to get reaction between all 3, caught it at 1832.70 coming off 1830.6 low. Felt strong enough to put a 5 pt stop on it. Nice to wake up to a 20 pt move up. Now begs the question whether to just sit on and hope we have low in on gold for awhile and let it ride or sell. Unfortunately only took one contract.