04 March 2010

Gold : Long @ 1136.40

  • Made a complete mess in managing my long Gold trade recently. Lacked conviction. Cut out long XAU/EUR @ 807 and did not have the good sense to jump back in when we closed back above 812. Now @ 831.
  • Try again. Fresh long regular XAU/USD @ 1136.40. Hopefully will manage it better this time although given that I think EUR will turn down sooner or later, I must be mentally prepared to absorb much pain on the new Gold position.
  • Monthly : Uptrend was never in doubt.
  • Weekly : 2 weeks late in taking this buy signal.
  • Daily : > 1131 = new series of higher highs and higher lows = new uptrend.
  • Add long > 1162.

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