XAUUSD momentum is running on borrowed time. Short gold.

14 ต.ค. 2024

I went long gold during the last trading event hosted by TradingView, Now I know that wasn't the exact bottom tick, but I'm not looking for that. I want to catch the meat of a move, and I think gold is overextended here. I think a push up past 2715 with it holding the move, would invalidate my thesis, and I'd be early, I'm not taking entries YET, but in the next coming weeks I think opportunity will be ripe to pick easy fruit and get entries around 2675-2685. I'm also becoming short on BTC here (that's for a different posy) and I think that plays a part in real world assets. Also we have the signals for overbought a little grouped up, I just think its about time we put in a local top at the least.

23 ต.ค. 2024

บันทึก

Added more yesterday, on another signal short (hasn't printed on the daily, but will as we move sideways/down) the candle needed to close in a certain range and it did, so I didn't cut the 2715 retest, I think we finally roll over on exhaustion here.

Being early sucked here, but being short crypto hedged it perfectly. Have been cutting exposure to the hedge, in anticipation of a reversal. Have a good rest of the week, and I'll see y'all early next week with some new updates.

4 พ.ย. 2024

บันทึก

Added one more time at 2720, and have been sitting on the position still. Will be forced to cut above 2800, liking my avg a lot where its at, and looking to short gold in a full position on THE LEAP trading comp going on right now.