Those who followed me would know that I have not bought any gold nor short it , my last post was here .
I added some yesterday as it revisit the support at 1678 level. You can see this is quite a strong support area with 4 umbrellas.
I have reiterated that support and resistance in the chart are not iron clad rules that the price action must obey. You can see many examples of that where it simply breaches this rule and put you in a stop loss position , once again letting you know nobody can outsmart the market all the time.
As of now, I believe and hope the price would continue to rally towards 1800 and if it breaks out, I would add more. But , what if it breaks down from here ?
Well, that is why you do not put all your capital in one single trade , that would be gambling and betting on your luck ! Yes, it is possible that it falls through and the next level of support we would see is around 1548 level. If it really , really falls to that level, then I would want to buy more (so, if I add 10% now, then I would add 20% at 1548 level).
Now, this percentage of increment is again a guide , not rocket science so do take it with a pinch of salt.
I added some yesterday as it revisit the support at 1678 level. You can see this is quite a strong support area with 4 umbrellas.
I have reiterated that support and resistance in the chart are not iron clad rules that the price action must obey. You can see many examples of that where it simply breaches this rule and put you in a stop loss position , once again letting you know nobody can outsmart the market all the time.
As of now, I believe and hope the price would continue to rally towards 1800 and if it breaks out, I would add more. But , what if it breaks down from here ?
Well, that is why you do not put all your capital in one single trade , that would be gambling and betting on your luck ! Yes, it is possible that it falls through and the next level of support we would see is around 1548 level. If it really , really falls to that level, then I would want to buy more (so, if I add 10% now, then I would add 20% at 1548 level).
Now, this percentage of increment is again a guide , not rocket science so do take it with a pinch of salt.
Not
after a week, only minor movements so why is there so much panic in the market ? that is when you engaged in short term trading by the hours and minutes , hoping to make fast money and allowing your emotions to run havoc. True, some traders have made it big but majority are losing money. Don't take my words for it. Ask around your circle of friends , how many are trading for a living successfully ? And those that claimed so, see if they are selling you trading courses, indicators, software ,etc ? WHY ? think about it ? is it easier to earn your money through attending course or taking the risks against the market day in nights out and battle for profits ? Draw your own conclusions .....Not
Praise GodNot
Around 1870 or so , can add moreNot
Even if you bought at at the High of 2000 in year 2020 and hold till now, you would be in a profitable position
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.