Tag Archive Sell Off

No Gold Rush at the Moment




No Gold Rush at the moment it would seem.

Gold could still rebound, though in the past few weeks we’ve seen the selling of the gold metal becoming hectic as if it was in an alternative gold rush to sell.

We believe a bounce had been coming hence why we entered the trade, however it could be the bounce is short lived and a continuation of the downtrend.

We entered for a Buy trade to get on the “Gold Rush”, but we don’t feel it will last long due to the position of sellers still, at around the 1200.00 area, price looks like it had a moment of strength to take it back up to that level and the sellers will enter again for another sell off and take price down further to an area we believe to be containing buyers around the 1150.00 area.

We’ll be taking a close watch of current economic events such as the US-China trade talks, as this too will be sure to have an impact on Gold.

Gold Rush

(Our trading and image was done using an account with UK based broker IG)

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




Taking Profit on GBPJPY Before the Sell Off




We closed out a forex trade to begin the month of July taking profit on GBPJPY before the sell off.

With the FTSE and those markets in Europe heading lower, many markets had been fearful of the ongoing trade standoff between the US and China, so had been selling massively with concerns the imposed tariffs could have the potential to impact economic growth.

We knew buyers could have the strength previous in the market to take price up, the UK Manufacturing PMI data which is  a leading indicator of economic health came out with good results at a positive 54.4  hence our long position, however as concerns had been growing, sellers were coming in to the market taking profits, we decided on taking profit also due to the impact the sellers were having on price and could eliminate a profitable position.

A £176.80 is a good amount of profit considering it could all be lost and go in to the negative should sellers stay in the market.

Taking Profit

(Our trading and image was done using an account with UK based broker IG)

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 




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