Gold has sold off hard after peaking three weeks ago at $2082, about 1.8% beneath the all-time high at $2122 recorded in August 2020. Because the pullback has come from the pattern’s sweet spot above p=2022, we should be prepared to buy the June futures ‘mechanically’ if they pull back to the green line. There’s nearly $16,000 per contract of theoretical entry risk, so we will naturally be looking to ‘camo’ our way aboard in order to cut that down to more like $600-$800. Stay tuned to the chat room and keep your account ‘Notifications’ switched on if you’re keen to play.
GCM22 – June Gold (Last:1923.70)