Thursday, 8 December 2011

Short Gold Closed

Closed with profit: The reason is that when price keeps knocking at the reaction line & making higher lows at the same time ( & the frequency is increasing) you know that all your instincts tell you to get out. I intend PERHAPS to fight another short Gold battle another day ( tomorrow) at the next RL above this ( see previous email). The profit on 1 contract was clsed at juts under 500$ but there was more on the table several times but this is my style. I am regularly stopped out at b/e or marginal profit/loss as i try to let trades run under these circumstances as long as I am in contro viz a viz the signals i receive. Maybe its a buy( on a RL touch back) and going to the next RL at 1715$ but it's the weakness and downside where i believe the opportunity lies.

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