Should we buy gold right now?
Yesterday we expected big fluctuations in price and that is now a fact.
The question that everyone is asking is if this upside move will carry on.
No matter what the answer to this question is, there is another one - should we buy right now?
This are pretty clear here!
At the moment gold is against a strong resistance at 1825, and immediately after that we also have a Daily resistance in the 1832-1834 zone.
If those levels are violated that means we would have a new daily high and then we could easily say that this move will continue higher.
There is still a chance that we could see price rejecting the resistance and shooting down to 1800.
That's why the answer to the question ''Should we buy now?'' is NO!
And here is a money management lesson for those of you worrying that you will miss out on this move.
If you buy an instrument at $8 and you sell it at $15, then you will have the same result if you buy it at $10 and sell it at $15.
The difference is that in the second case scenario you have a higher probability for that to happen!
The question that everyone is asking is if this upside move will carry on.
No matter what the answer to this question is, there is another one - should we buy right now?
This are pretty clear here!
At the moment gold is against a strong resistance at 1825, and immediately after that we also have a Daily resistance in the 1832-1834 zone.
If those levels are violated that means we would have a new daily high and then we could easily say that this move will continue higher.
There is still a chance that we could see price rejecting the resistance and shooting down to 1800.
That's why the answer to the question ''Should we buy now?'' is NO!
And here is a money management lesson for those of you worrying that you will miss out on this move.
If you buy an instrument at $8 and you sell it at $15, then you will have the same result if you buy it at $10 and sell it at $15.
The difference is that in the second case scenario you have a higher probability for that to happen!
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