Wednesday, February 2, 2011

Gold on 2-Feb-2011 (Wed)

Gold didn't break above 1345 but start to consolidate before the next move.

We realised that Gold is currently trading in a flag, and for intraday trade during consolidation, we can long when the price come to the base of a flag.

Recall my Long on Monday @ 1328, Gold down to as low as 1322.58, my SL 1322 is not triggered, and later at night hit TG 1340 (+12 pts).

And everything come to a similar setup tonight...
Long 1327 SL 1322 TG 1345 (resistance).

1 comment:

  1. missed yesterday entry by 0.20 on Gold.
    Cancelled order and going to watch TV with mum!

    ReplyDelete