Gold spikes up and then falls back—shorts’ first target has been reached!
Actually, I already reminded you about this move yesterday.
The price rose from around 4454 all the way to 4700, so the short-term gain has already been significant and long positions have started to build up profits.
Many people see consecutive rises and think they can keep chasing.
But the faster the rally, the more you need to watch the risk at high levels.
This morning, when I saw gold surge high around 4700 with increased volume followed by a pullback, it showed that positions above were starting to be cashed out. That’s why I chose to focus on a short opportunity.
The market just answered the question—
The shorts’ first target has been reached.
You don’t have to catch the absolute lowest and highest every time. If you can execute your plan and lock in your profits, that’s already enough.
Don’t blindly chase when price is rising; even more so, stay calm when things get crazy.
Opportunities in the market are always there—the key is waiting for your own position.
Actually, I already reminded you about this move yesterday.
The price rose from around 4454 all the way to 4700, so the short-term gain has already been significant and long positions have started to build up profits.
Many people see consecutive rises and think they can keep chasing.
But the faster the rally, the more you need to watch the risk at high levels.
This morning, when I saw gold surge high around 4700 with increased volume followed by a pullback, it showed that positions above were starting to be cashed out. That’s why I chose to focus on a short opportunity.
The market just answered the question—
The shorts’ first target has been reached.
You don’t have to catch the absolute lowest and highest every time. If you can execute your plan and lock in your profits, that’s already enough.
Don’t blindly chase when price is rising; even more so, stay calm when things get crazy.
Opportunities in the market are always there—the key is waiting for your own position.
