News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
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US Month on Month Job Cuts by Employers Soar 54% in July
US Month on Month Job Cuts by Employers Soar 54% in July
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CME Raises Silver Margins by 12.5%
CME Raises Silver Margins by 12.5%
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United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
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First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
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Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
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Bank of Japan to Loan $1 Trillion into Economy
Bank of Japan to Loan $1 Trillion into Economy
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Wire

Gold Powers up to Resistance

June 30, 2020 - (Gold Market Wire) - Gold has powered ahead to touch the overhead resistance line and we are taking some money off the table into the move up. We have met our objective and are taking profit.

an excellent place to take profit on 1/3 to 1/2 of the trading position.

The main component of our trading strategy here for the past two months, as regular readers will know, was for a June rally. We had to wait for the end of the month, but we have it, and now we are taking profit on a chunk of the position. Can the market go higher? Sure it can. But the move up to the overhead line is a solid profit taking opportunity and so we will cash out and realize some of that move. Selling into strength is the move we always seek for profitable trading, and we execute accordingly. If we settle up a bit over the resistance line and consolidate, we will look to add to the position once again, once we have a clearer look.

For now, brass in pocket, we end the quarter on note, as our strategy came together as envisioned. A solid success.

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