Gold as short term short

Start trading
Updated: 10 March 2020

$GLD – (Gold Trust) has shown some slow action lately although the market was tumbling. The usual miscorrelation between SP500 and Gold prices is not coordinated and looks like this can give us an opportunity. As the market is gapping higher today we may see lower prices in GLD. I would suggest skipping the first 20-30mins and focus on the moves and try catch a short out of 156.50-157.00.

For more ideas and market videos join our telegram chatroom | https://t.me/asktraders 

Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never chase a trade once it is too extended from the entry zone.

Never risk more than 1% of equity per trade.

Happy Trading!