XAUUSD/Gold: Why You Should Be Short At Historical Highs

Hey Traders,

As FED news and comments comes across the wires we can see further buying of gold.

As the saying goes, 'Buy low, sell high' This is one of those times where its great advice.

This buying, as you have seen previously, frequently ends with liquidation from investors and a falling market ebentually.

That does not mean it cannot break the highs, it just means you need to be trading at a size which caters for it. Gold has broken highs practically forever, so its better to be a shorter on the larger falls, rather than guessing when it will get longer.

This is evident of the last 3 X tries.

So here's why I am short biased in a simple format.

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Holding short bias.

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Check any influential sentiment over the weekend. Short bias remains going into this week. Lots to see for the next. Be Ready.

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Also, spend this weekend looking at what your drawdown / equity overall will look like, should we get 2100, 2130, 2170 and so on. It can happen. Nonetheless, bias remains short. A higher price is only more shortable.

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Brace for Monday market open. Lots to come.

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And there you have the art of the market maker and why you do not use stops. Exiting at early support flipping very very tiny long.

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Teeny longs applicable early exits.

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Looking for 2080 Exit Longs and RE shorts

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Light Longs OK.

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No new entries until Higher TF support (long)

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Exit longs for minor gains.

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Further longs.

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Out ALL shorts. Continuing long bias.

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Out of all longs for gains.

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And turning short :)

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Same plan. Re shorts.

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Short biased.

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early 2024 - short bias.

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Continued short bias. Lock in some gains. No new longs until circa 2013