This is the first gold short at this level, plan is to scale in if trade still looks promising by the next few days.
This is in hopes of gold being exhausted at this level & likely needing a healthy retracement my target 2100.
Over the weekend news has been revealed of Gaza ceasefire talks being mediated in Egypt by the CIA with representatives of Hamas attending, which quite frankly sounds promising.
Ceasefire news will help the gold short case.
middle-east/hamas-says-delegation-go-cairo-april-7-gaza-ceasefire-talks-2024-04-06/
This I believe has not yet been priced into the market.
I will be watching this 2330 level like a bear watching a current for salmon.
0.5-1% risk
This is in hopes of gold being exhausted at this level & likely needing a healthy retracement my target 2100.
Over the weekend news has been revealed of Gaza ceasefire talks being mediated in Egypt by the CIA with representatives of Hamas attending, which quite frankly sounds promising.
Ceasefire news will help the gold short case.
middle-east/hamas-says-delegation-go-cairo-april-7-gaza-ceasefire-talks-2024-04-06/
This I believe has not yet been priced into the market.
I will be watching this 2330 level like a bear watching a current for salmon.
0.5-1% risk
Trade is left running.