24 February 2010

XAU/EUR : Squared @ 807

  • So much for all time highs. Trading back below 812 now. Uncomfortable feeling.
  • Squared my long at 807. Small loss (=EUR 3 per oz).
  • Have seen how scary gold drops when it goes crazy. Not about to take the chance of getting caught up in another bout of those.
  • Failure of technical signals can be very powerful reversal trade signals. We have yet to re-enter the triangle however (at 800).

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