Saturday, September 23, 2017

Sorry for being late with yesterday´s closing update but being a quite Friday nothing was going to happen in the NY afternoon. Even though Gold ended the day on a somewaht bullish tone on its way to 1305, only a break at 1299 could fuel the upside, at least until 1305, so I decided to keep my short position @1299 and lower the SL to 1302, this would be a 3 pips risk with a potential reward of 25 pips and that is a quite awesome risk/reward ratio.

 Geopolitical issues are still on the radar however I don´t think markets will react in desperation as investors and traders get accustomed to harsh language on both parties without any military action. EUR/USD and 10Yr Note ended the day without any indication that an impending rally may occur so I believe that another leg down is on the cards for next week. Have a lovely weekend.
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14 comments:

  1. jorge lugoSeptember 23, 2017 at 9:00 PM

    I hope we can see a big gap down tomorrow.

    ReplyDelete
  2. HighseasSeptember 23, 2017 at 11:45 PM

    Thank you, I agree with you based on my limited experience.. my anlaysis is in the same direction with 1292 as 1st target, 1288 second and 1277 last.. will feel the urge to either tp at 1292, or add short position to 1288.. safe trading friends..

    But I feel a bit uncomfortable about the geopo happebings and a gap up..SL down to 1302 on youe advice :)

    ReplyDelete
  3. CesatoSeptember 24, 2017 at 12:43 PM

    Risk is low having the SL @1302, should the price reverses there is going to be an opportunity to buy later in the week.

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  4. UnknownSeptember 24, 2017 at 2:55 PM

    I got sell from 1288 do u think I can achive 73 in this week sir

    ReplyDelete
  5. CesatoSeptember 24, 2017 at 5:23 PM

    Let me ask you first, on what grounds did you sell @1288? I mean what kind of analysis led you to sell 1288? Gold can certainly reach 1271 this week. There is going to be high volatility and you need to protect your position above 1300.

    ReplyDelete
  6. ShaunSeptember 24, 2017 at 9:47 PM

    Thanks for the update sir

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  7. UnknownSeptember 24, 2017 at 11:44 PM

    Thx for reply sir
    Actually Iam holding more then 6 POS as it's star from 1288 till 95

    ReplyDelete
    Replies
    1. CesatoSeptember 25, 2017 at 6:55 AM

      Wow I understand, I do not usually add to any open position unless there is at least USD 10 difference between them and the first position is on green (a winning one). I essentially use this practice because the bigger the position without margin to place a good SL order the greater the risk of getting your equity wiped out in no time.

      Delete
  8. HighseasSeptember 25, 2017 at 1:13 AM

    Good, so the position and trend remained in tact over the weekend. Strong resistance at 1292 region, if it breaks, do you guys think it will be prudent to add another short to target 1288? if so where would you stop. my order would be enter at 1291.88, TP 1282, SL 1295.

    ReplyDelete
  9. UnknownSeptember 25, 2017 at 2:34 AM

    Sir cesar, where do you set your TP? And are you planning to move your SL to break even point? I'm holding short @1295, I was a bit late to enter, but I hope it's fine

    ReplyDelete
    Replies
    1. CesatoSeptember 25, 2017 at 6:57 AM

      I aim for 1282 and 1270. My SL will remain @1302 considering than the risk for me is only USD 3 from the entry level.

      Delete

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