Stopped out of the long gold position. With hindsight, the uptrend in gold was not especially strong, and more importantly the market had been sitting around on the trend line for a few days — not a very good sign. I am happy with the stop positioning — the trend line is broken, and the stop has taken me out. This is part of getting the idea of how to jump into trends. I think I should wait for a more convincing pullback before getting in.

Original trade sheet here.

I have been stopped out of this trade quickly, but that is as it should be — it means I would have had a good entry point, had I been right about the market direction!

The chart, from IG Index, shows the approximate stop level.

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