10.25pm...
Looking at weekly chart, gold sits on my favourite 34EMA. Any fall below that level will possibly means a U turn in gold prices..right now,.it's sitting on the fence.
Daily chart in another MT4 Platform shows price resting on 200EMA . It looks like a strong support today. If this support is broken, again.. prices will be expected to fall - and fall.
Given that historically, prices of gold is on it's uptrend, I am betting for it to stay temporary up. It is possible that it will eventually break, but for now, I am trying to capture any profits on it's temporary rebound.
Entered 4 long gold at price 1662.79, SL set at 1648.06, potential loss $80/- or roughly 30% of whatever cash balance I have now left - make or break time. I hv not set TP yet,.. given that prices have fallen so much,.. I would love to push any profit as far as possible.
Am using Support/ Resistent strategy..
Cash 272, Net 281.
Long 4, Gold
No comments:
Post a Comment