This is a counter trend trade, I dont Like counter trend trades but i couldnt resist the temptaion that with rising bonds yields more investors will be tempted to try the 'insurance' against inflation method of purchasing gold.

Its also not all that unattractive a position from a technical perspective. price is close to support in a downgoing trend channel. This provides an opportunity with a risk reward that I can stomach for a counter trend position.

If it was any further away from support I wouldnt consider the position, I have also set my stop only at the previous swing low, so I am not aiming to capture the entire range.

XAUUSD Counter Trend Long

Mar 04 2021

Stop Loss -1.97%

Holding time 4d10hr

1717.44

Entry price

1683.54

Stop loss price

1