27d (edited) • 💰 Capital #ToMultiply
Gold Outlook Feb 5th
In the future one lesson will include spotting early reversal signs of price action.
Yesterday's Gold price confirmed the bottom of the current retracement, I closed my shorts positions at 10% profits (Shorts are only hedging my multi years long time holdings in case of a black swan event).
Remember the sole true currency in human history is gold everything else keeps changing names and purpose.
Today's topic: Spotting Early Reversals & Hedging Logic
In a future course we will dive deep into exactly how to spot early reversal signs in price action. Yesterday gave us a perfect real time example in Gold.
Yesterday's Gold price action confirmed the bottom of the current retracement.
I closed 80% of my short positions at a 10% profit.
Important Notes:
These shorts were strictly a hedge to protect my multi year long holdings against black swan events. They were not speculative long term bets.
* Never forget that Gold is the sole true currency in human history. Everything else keeps changing value, names and purposes.
Next level to be watched: 5530 - 6000.
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Gold Outlook Feb 5th
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