Not much to say today, there is a clear bearish bias leading to 1309 (20 MA) with a high risk of a surprise rally to 1347. At this point in time is more of being aware of the risk rather than the profit. As far as I´m concerned I will play closing the short on the lows (1306 - 1310) today with the possibility of closing all positions and start all over again if the price drops below 1300. Do not fall in love with your positions, if you happen to be on the wrong side of the trade for more than 10 pips just close the postion, get yourself together and think again.
Tuesday, September 12, 2017
13 comments:
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Good morning :). i could see 1305-1310 maybe even 1300. Its been a rough ride. GL everybody
ReplyDeleteMorning.
DeleteI guess both of us still on hedge and skipped the 1327 release hey Omar :)
yeah but its seems like its good we didn't release it there. the release point is very difficult to catch.
DeleteHope everything & everyone is okay back in Miami my friend.
ReplyDeleteSir Cesar I have a sell at 1324 for gold what do I do please tell me ?
ReplyDeleteHold it and place a SL order @1334
ReplyDeleteRallying Sir ?
ReplyDeleteAs I have mentioned earlier I have 250 ounce at 1348 and 250 ounce at 1343 and I have 300 short position at 1337. In my assumption the gap will be covered by tomorrow or day after it will go down further and tomorrow's news it will use the end the down trend and Thursday inflation news to close the gap and start bull trend!
ReplyDeleteit might take a month to close the sunday gap.
Deletehello sir ultraman, are you mean gold will go down?
DeleteThat´s is very likely but be aware that 1374 is a key level where a trend reversal may take place for good down to 1265 through the end of the year, just be aware of that. Truth is that there will be a gap filling rally this week but I could not say neither when or from what level.
ReplyDeletei agree with you sir cesato, 1265 should be the end of short and 1374 is a key level reversal which more likely take place. i am having doubts myself that its going to be bearish for few week without filling the gap because "based on my newbie observation" 1. the recent rally might not really because of NK, its most like due to the hurricane. 2. demands for gold in china, india and now turkey which exceed supply. 3. based on few previous pattern, i notice 3 gap made, which is december 2016, it was filled immediately after trump become POTUS, next on april 2017, which is filed after a month and lastly sunday gap.. overall i'm bullish in longer term view
DeleteAgreed, since the best scenario is having an informed guess I will close my short now and wait for the daily close.
ReplyDelete