Thursday 17 November 2011

Gold's turn to shine

11.40am..
Looking at the 4Hr chart,  there are 3 pin tail pointing up.  Gold is at support level and there is a risk of breaking it and falling further. I would  like to think of the support as supporting and price moving up instead.
The previous 4 hours price was a doji, so it's not helping in the decision making. 
Will long,..and note that this is a contraian move.. buying against the general flow of price fall.

Went in 1 lot at 1724.02, SL at 1698.17, TP at 1758.9.  R/R ratio = 1: 1.2 (thereabout). Potential loss = $34.

Current position:
1 long gold
20 long silver
2K short USD/CHF.
Cash position : $261
Net Value of of now $270

No comments:

Post a Comment