How I lose Money Shorting Gold

This Post is about , sharing my Experience on how i loose money shorting Gold

Before Opening my Position  in Gold Yesterday , i have did some Home Work

1. I have checked  the Comex  gold Futures Pricing
2. Studied 5 minute ,/ 1 hour and Daily Chart

Firstly Base on Comex Futures , there are indicative signal that golds futures are  going bearish.

thus first bearish fact verified

Second, Base on technical analysis Indication , i have identified the Up / down  resistance

thus second fact verified

 

After Gathering all the Data / analytics

I come out with my trade Plan 

Trade Type : Short

Buy in Position :USD  1840 ( Buy in  at the Downside Resistance level )

Stop Loss : USD  1845 ( 3 points above resistance Level )

Take Profit : USD 1838.30 (3 point below resistance level)

 

Sounds Good Plan to me back then   

 

Then that Spike Came in  from USD 1840  to USD 1847 , Happen in   a blink of an eye . Less then 2 Seconds 🤣🤣🤣

It went back down very quickly as well less then few seconds

 

Thanks to the Spike  , it was really really unpredictable . That Spike  have caused me burn out  USD 100