Posts Tagged gold
There was a huge move on Gold which we were expecting... it's just a shame that we were on the wrong side of the market.
From the chart above you can see the price action. It was actually the 27th April when I had entered the market on the pinbar as highlighted. You can see the support line had rejected price quite strongly each time it hit this so I had my entry.
I did know that the overall price direction was bearish but I was thinking that the market had been heading low
April 2, 2013
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I was finding that I was missing out on Monday’s movements if I had only looked at the markets from Monday morning. Sunday evening isn’t a good time to base trading signals on due to low volatility. Anyway, today, I got up earlier than usual and looked at the markets before the European open.
I decided to take a short on Gold as it was in a downtrend and the recent pullback up looked as though it had run out of steam. You can see that there is a resistance level where the market had
March 25, 2013
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[caption id="attachment_7654" align="alignnone" width="601"] 14th January 2013 - Gold Trade[/caption]
Earlier this week we sold Gold (those that followed my Tweets would have got this info in realtime). The reason for this was for a couple of reasons.. the underlying trend in the Daily charts as you can see had been down and there was a marked resistance line. One the day that I had shorted this, I could see that the price action had reacted to this line and was starting to move lower. Of cou
January 19, 2013
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