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Gold Put Signal 23 June 2016

Signal details
Entry Price: 
1265
Close Price: 
1257
Expiry Time: 
20:00 GMT
Result: 
ITM
How we trade
5/5 of 3 ratings

Gold has been hammered lower during the Asian session only to recover in the aftermath towards earlier highs around $1267.50. The price has since dropped lower and we are now convinced that the trend started in Asia is more likely to continue.

We would be buying daily puts on gold at $1265. The main rationale aside from the technical picture is that gold is likely to get hammered once more if the Brexit referendum result is closer to "Remain" which is our baseline scenario. Treat the signal with caution and don't risk too much money today.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.