Resistance that tells me to sell, not referendum
On 24 Nov, I highlighted a sell cluster at 1200. Needless to say, i shorted at 1201.
RESISTANCE = Downtrend channel resistance + Horizontal resistance at 1200!
Now after only few days, especially today, this Swiss Referendum cause gold price to gap down!
Now ask yourself honestly, do you think gold price tumbles due to technical channel resistance or because of Swiss Referendum.
Since this is a swing trade, i have took all profits at 1145.
If price continue to freefall when US market opens, there is a possibility of gold going to the channel bottom for support ~1113.
RESISTANCE = Downtrend channel resistance + Horizontal resistance at 1200!
Now after only few days, especially today, this Swiss Referendum cause gold price to gap down!
Now ask yourself honestly, do you think gold price tumbles due to technical channel resistance or because of Swiss Referendum.
Since this is a swing trade, i have took all profits at 1145.
If price continue to freefall when US market opens, there is a possibility of gold going to the channel bottom for support ~1113.
