01 June 2010

Gold : Danger Over?

  • Coming back strongly after recent panic liquidation to 1167. Yet another reminder of the importance of proper trade sizing to allow one to take unexpected heat. Glad to have learnt the lesson in early T4L years (but still in-born tendency to get carried away at times).
  • Kudos to those who were able to catch the moves in between. I am just content to have survived and be still in it with original position intact.
  • 1226 is key level (now @ 1221). A re-close (weekly) above = signal to add on to long position. Waiting.

2 comments:

TradeDemon said...

T: would you add above 1226 immediately as price crosses or buy Friday close if above 1226 - just curious how you would play it...

Taichiseal said...

Since I am already fairly long, I will only buy upon confirmation on this Friday's close. In percentage terms, I am only looking to increase my position by about 12%.