Wednesday 16 November 2011

Today's focus will be on Gold

10am local time. Current start value = $260/-

Looking thru' the overall daily charts, looks like a potential weakening in gold and silver.  I had indicated in my graph to only short gold /silver at a higher level. It's not time to short although the overall direction is down.
But since I am UNABLE to withstrain from not having an order in the system, I went in to short , just on impulse. As of now, I hope that is not an expensive impulse. My emotions are just too hard to change. 

Shorted 1 lot of gold at 1759.56.  SL 1791.87, TP 1726.08. R/R ratio = 1:1. Potential loss = $46/- . I usually allow only 20$ for total day loss, but guess I make an exception this time. Any lower SL may risk immature trigger,..and since I am pretty sure the price is falling,.. I will take an extended SL risk. Will see how it goes,..will try not to stare at the trade.. try try try..

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