Posts Tagged gold
Over the last few weeks and months, Gold and Silver have fallen heavily.. over 20%.
Considering that since 2009, Gold has gone from around $700 to $1800 in mid 2012, a correction of some sort was expected. In 2012, Gold actually didn't do too much.. it oscillated between $1600 and $1800 and earlier this year, it finally broke down below the $1600 support level and hit a bottom at around $1200.
Over the past couple of weeks however, we may have seen the end of Gold's decline. In fact,
July 21, 2013
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A good trading week last week. Sometimes just a couple of trades can do it and last week we had two relatively straightforward trades.
Firstly, on the USDJPY forex pair, the trend has been up and there was a clear pinbar. We went long on that bar and the following day, the market went up. As it was Friday and I wasn't keen on holding my position over the weekend, I took profits for 80 pips.
My Gold trade was actually done a few days before - on Tuesday, shorted at 1242 with a stop at 1
July 8, 2013
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If you've been reading any financial papers, you would have noticed that the big news was Gold and it's biggest ever fall when it went from 1540 to 1340.. 2000 points in just two days! The move certainly got a lot of people startled but it's since recovered half already.
Anyway, I felt that Gold was due a move down again after the big fall and a retracement and was looking for a short entry. I took the first sign of some weakness as a point to enter and this was 1420 as you can see from the c
April 25, 2013
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