Friday 12 March 2010

Gold Friday evening..on the LMLP




I will watch the close and if we get a retest of the LMLP go long with a tight stop ....this (1100$) is a very important pshyc level and bang on our LMP but i am concerned and this trade should not be considered in a hurry but bar by bar. Evaluation first and action second, remembering that i will/must live to fight another day ( ie. there will be thousands more trades) and would rather not take a trade if i wasn't really 100% sure as i can be with my rationale.
So. No resting order at the moment but all possibilities for a trade on/during the US closing session. Looks to me as though we will at least have a re-dig at the 1100$ level so possible entry point at

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