JUNE GOLD
APRIL GOLD
gold has retraced more than 50% of the entire
up move from 8911 to 9411. It has fallen below
the blue up trend channel. The new down flag is
purple and should resolve up.
This is a difficult period to trade gold as the April
contract has only until March 27th to trade (9 days)
and if you get stuck upside down in your position,
you don't have enough time for the market to move
back to get you out without a loss.
Equally problematic is that the JUNE Gold contract
is trading on very little volume, which will increase by
the day, increasingly so the closer we get to the 27th.
June gold trades very herky jerky due to this low
liquidity making executing trades at exact price points
very difficult. Buy low and hang on, or sell high, is still
a good strategy IF there are no quick sell offs, because
getting out at good price is harder to do.
