Wednesday, September 20, 2017

In the end, scenario 1 played out beautifully, I did not take full advantage of it because I was distracted by having a hedge and also I did no expect the price to go beyond 1300 and much less to close below 1306. In the end I gave up 7 pips which anyway had been made during the week by closing and opening hedges, lost 4 from a short from 1298 to 1302 and 3 from a long that was just closed with the SL @1297. Positives are that I´m not long @1346 anymore and I do not have any open positions at the moment, negatives are that I have not made any money this week and now I need to wait for the market to consolidate before opening a new position. The gap @1346 was never filled which is very rare but come on this is the GOLD market. I would expect that rallies to 1316/1319 would be sold if we ever reach that level unless something unexpected happened that take the price to 1336 (unlikely) and if it does it will be sold as well. For now the market has turned bearish.



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9 comments:

  1. SK MENUNGGANGSeptember 20, 2017 at 7:45 PM

    good call, seem like a lot more people stuck just to filled the gap, it will eventually be filled but who knows when, just like BTC the gap $600 haven't been filled yet

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  2. DylanSeptember 20, 2017 at 8:38 PM

    Thanks sir.. Trend is your friend, rite. So it's better to just stay short. May I know your possible short entry point?

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  3. gastro vazzeSeptember 21, 2017 at 1:16 AM

    Is it too late to short now?

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    Replies
    1. CesatoSeptember 21, 2017 at 5:44 AM

      Well it depends on the consolidation pattern but 1299 has now become the short term resistance, should it break 1299 then 1305 will stop a short term rally, support comes @1282 before 1270 where I would expect a bounce up. Since the news calendar is very light it is difficult to predict when a bounce up would take place however I would say Friday is a good candidate considering that the market is quite oversold and EUR/USD has been very resilient to break below 1.1900. This all about interest rates and its effect on the 10 Yr Note.

      Delete
    2. gastro vazzeSeptember 21, 2017 at 6:08 AM

      Thx Cesato:)

      Delete
  4. UnknownSeptember 21, 2017 at 6:00 AM

    Sir, may I know about that Supertrend indicator above, is it an app or something? Where can I get it / download it? I think it's gonna be really helpful.. Thx before

    ReplyDelete
    Replies
    1. CesatoSeptember 21, 2017 at 6:56 AM

      Use this referral link to get the charts that I use.

      http://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=5498

      Delete
    2. CesatoSeptember 21, 2017 at 8:14 PM

      It is an indicator associated with certain chart providers.

      Delete
  5. UnknownSeptember 22, 2017 at 12:58 AM

    I've downloaded the Tradingview app, but not sure where I can't find Supertrend indicator.. Or maybe I don't know how to make the right settings.. :(

    ReplyDelete

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