Updated: Jan 6, 2020
We are now into the final week of the year! Now let me review the trade I have done last week.
If you have read my previous post, I have discussed that how Gold is seasonally attractive to go long
Broke out of trendline and tested trendline as resistance
Resistance turned support
Price is now ranging at the resistance level and I have closed the position. Will look for long position at 1488 region or signs that the resistance level is broken
Next up, this beautiful chart of palladium. Price retraced to 50% level and is a support level that was previously a resistance. Previous retracement also happens at 50% level. This is get in the dip!
Trade set up
This chart seem to be forming a head and shoulders pattern (bearish) Will look to go short if the 142 region could not hold.
Happy trading guys and Happy new year!