Monday 21 November 2011

Broken Support, first major 'loss' today

6pm.. price broke SMA34 support for gold on a daily chart. Position Closed with lost of $24/-. Silver position closed with lost of $5/-

Current cash position down to $283/- . Bad, not liking it at all.. I will only blame it on my need to trade. I cannot stand empty / nil order status.

Will revisit the chart again near US session.  May have to wait the close of today on gold price. If it starts to confirm falling below the SMA34, I think it's time to do a big short on that. The issue here is - do I hv the patient to wait till tmr ? Or will I go against my better judgement and throw in some orders again today.

Emotions, my number 1 enemy.

Cash value 283

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