In the light of today's huge decline,we decided to move the stop level below our entry point,so at the end we are locking-in some of the profits while giving the space to letting them grow further.
please note-The decision we are taking is a preparation for a possible huge price drop,it simply does not reflect the likely outcome.
At the moment of writing this update our full 250% net short positions in gold -1.31% -1.65% , silver 0.14% -0.53% and mining stocks are well justified from the risk and reward perspective.
-If you have been following our trades for some in trading view or if you are our premium subscriber.you made a lot of money in this year and you know technical analysis and daily written updates matters a lot but if you haven't you might be thinking why you should even care about these charts and daily updates instead of just watching and observing the real-Gold supply and demand , geopolitical conditions, interest rates and so on. you are making a very novice and dumb mistake because the technical analysis of the precious metals market is clearly justified from the fundamental point of view.
The conclusion-our outlook for Gold -1.31% 0.05% , Silver 0.28% -0.53% and mining stocks is very bearish for the medium and long-term, and it seems gold -1.31% 0.05% is likely to plunge more within next 2.5 weeks and it seems $1130 target is very much likely to reach but it may even drop to $1060.We may touch a local bottom later this month, though and we’ll keep you informed regarding the possibility of seeing a bigger turnaround.
more likely scenario- we’ll see some kind of local bottom with gold -1.31% at $1,125 - $1,130 or so.
we will keep you informed anyway
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 15.500
Take Profit: 12.80
Stop Loss: 15.600
ASSET-GOLD
Sell limit Price: 1231
Take Profit: 1080
Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver 0.28% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
please note-The decision we are taking is a preparation for a possible huge price drop,it simply does not reflect the likely outcome.
At the moment of writing this update our full 250% net short positions in gold -1.31% -1.65% , silver 0.14% -0.53% and mining stocks are well justified from the risk and reward perspective.
-If you have been following our trades for some in trading view or if you are our premium subscriber.you made a lot of money in this year and you know technical analysis and daily written updates matters a lot but if you haven't you might be thinking why you should even care about these charts and daily updates instead of just watching and observing the real-Gold supply and demand , geopolitical conditions, interest rates and so on. you are making a very novice and dumb mistake because the technical analysis of the precious metals market is clearly justified from the fundamental point of view.
The conclusion-our outlook for Gold -1.31% 0.05% , Silver 0.28% -0.53% and mining stocks is very bearish for the medium and long-term, and it seems gold -1.31% 0.05% is likely to plunge more within next 2.5 weeks and it seems $1130 target is very much likely to reach but it may even drop to $1060.We may touch a local bottom later this month, though and we’ll keep you informed regarding the possibility of seeing a bigger turnaround.
more likely scenario- we’ll see some kind of local bottom with gold -1.31% at $1,125 - $1,130 or so.
we will keep you informed anyway
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 15.500
Take Profit: 12.80
Stop Loss: 15.600
ASSET-GOLD
Sell limit Price: 1231
Take Profit: 1080
Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver 0.28% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
Trade closed manually:
Closed the position in gold@1180 and silver@14.670(substantial profit)
