Wednesday, April 13, 2011

Gold and DJIA


7:30am (GMT+8)
I have been stopped out twice while Long on Gold.
Even the important support level of 1455 has been breached last night.
but Gold still settles at 1455 after making of low of 1444.

This level of 1444 is a nice fibo retracement level if we observe from day chart, it behave just like the cycle in mid of March till end of March.
I believe the market will repeat the same price actions until 15-Apr-2011 - this Friday.  Expect a double pincer or triple pincer at current low of 1444.

Rest for 2 days and observe the price action at current low.


Cool DJIA has made a big loss last night.
Nasdaq 100 has created a gap down too...


Yesterday YM has no initial shadow but fall.
Temp Resistance 12270 (70 pts from current price)
Aggressive Trade can short at Initial shadow when you observe the YM trading at 12230.
But I expect YM to continue trading down to 12150 before it rebound, if this is the case, shorting at 12230 is not ideal (in case you are happy with 80 pts profit, while risking 70 pts), 2nd-ly may be not able to get an entry at all.  Cancel the order if it is not filled until 3pm (GMT+8).

If YM rebounded like what we expect, short at Fibo level 12270 is ideal, which is also a pincer bottom from previous cycle.  SL 12300 - 12320 (50 pts), TG 12100.


  1. Date: 13 APR 2011
    Size: Sell 2.00 contract(s) to open
    Market: Wall Street (SGD1 Contract) CFD
    Level: 12324
    Stop: 12374.00
    Limit: 12024.00

  2. Queue to Long Gold 1445 continue.. SL 5 pts, TG 20 pts.
    Buy 15 contracts.