- Gold retraces from its downtrend, offering bears a short opportunity.
- Trader mindset announcement.
Last time we looked at Gold
On February 24th, I mentioned how we should be sitting on our hands until we saw a potential short squeeze in GC futures. Sometimes we just have to accept the fact that there are no opportunities in the markets and move on to other things.
Our patience has paid off now with the retracement having arrived. Take a look at the chart before we look at the possible short entry below:
The Trade
Taking shorts around this area might be a good idea, but it’s very dependent on economic events and fundamentals. This trade assumes that the Dollar will continue to strengthen again.
The entry is around this price with a stop at $1,902.3. Target 1 is $1,819.9, and target 2 is at $1,728.2.
The idea would be to move to break even once target 1 is hit and monitor the trend as the days pass to see if target 2 is a possibility.
Announcement about trader mindset
Soon, we will be launching something called ‘trader mindset.’ It’s a series of 1 on 1 session that traders can book to have with Jay.
In these sessions, we are going to focus 80% of our attention on mindset and 20% on the practical elements required in trading and markets. We are going to look at your schedule, personality, and trading philosophy to begin building a solid plan you can rely on. We will not cover trading strategies in these sessions nor technical patterns or setups. I am simply here to help you understand the best path forward toward achieving trading success. I am here to support you. We will be releasing a video soon with more details.
Topics we will discuss include:
- Objective trading vs. subjective trading
- Developing an actual plan and something that you can trust
- ‘Importance’ as a major factor in why failure arises and how to release it
- The ego and its role in trading decisions
- How you can make trading easy
- How to make the choice that successful trading is what you actually want
- Vital exercises to improve your trading ability and decision making
- Why your expectations on the outcome are the reason things don’t work out
- All major athletes need coaches. Trading is no different
- How to think in probabilities
If this is something that interests you and would like to be added to the list for a free session once rolled out, please add me on discord here Jay-OUP#6138, or send me an email at jay.g@oneuptrader.com
