Tuesday 29 November 2011

Silver trap

11.05pm
For the whole evening,.. price of dripping downwards.. like the tap that is not completely closed, the price of silver falls one step at a time.
I have seen these behavor before. Each time this happen, it just shows that price is moving the opposite direction pretty soon !
I didn't have any order outstanding,having closed gold with a very small profit.  The service provider that I used to chart my charts, is moving like a snail. The system freeze and I had technical chart to depend upon.
Used Oanda chart just to look at the price action and having learnt about supply/demand from Sam Seiden recently, I decided to push in 50 lots to buy at 31.86.  It took another 30 mins or so, to have that tap turned off and price started to soar... it hit the resistent line at 30 mins , and I exited at 32.1123 , with a profit of 12$.
Again without the technical chart, I  decided not to trade anymore for today. Time to rest and be energized tmr. I may hv to work out a Set and Forget strategy for small sum tmr since having a system the freeze can be very frustrating.
More tmr. No outstanding order as of now. USD is very strong today.


Cash 381

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