Gold-May-01-18

[Zack Zarr 5]

Gold Trades based on May-01-18 COT Report

 

As I explained in my post, the Gold traders have a very interesting and straight forward mindset. I attribute this mindset to the fact that Gold is a physical commodity/asset. There is a literal supply and demand dynamics across the world for it.

 

I have been able to make a case for a short term downturn in the gold and have been able to profit from it. Although most of my short trades have been closed with profits, I still have some open. On the week of May 1st, I anticipated some short term upward movement in Gold and opened few longs. The trades were either closed with some profits or at BE. However, the following weeks brought more downside which made me open more short as well as longs on the way down. I will make some more updates regarding these trades in the coming posts.

 

 

For more information on this type of analysis check out the previous posts in the education section of the forum here, here, and there.

 

If you want to discuss further and clarify things, please send me a message to [email protected]

 

Zack