Tuesday, June 7, 2011

Quick Update

Gold

Yesterday I shorted Gold at 1549.70 SL 5 pts away (1554.70), target 1534.70
Market almost trigger my stop loss with a higher high 1553.22.

Although market had a sharp fall last night to 1540, but I suspect market to attempt 1546-1550 again, before breakout to the 1st target 1534 and 2nd target 1522.
Just re-learned profit pyramiding last weekend during Advanced Workshop, I will plan my 2nd entry upon successful breakout below 1540.

GBP/USD

My favorite market.
Queue to short at 1.6500. SL40 pips, TG 200 pips.

EUR/USD

The market shows fatigue and going to resume the downfall soon, I queue to short at 1.4653, SL 40 pips, Target 200 pips.

DJIA

I am Staying sideline.
I’m watching the support at 12000-11980 region. Suspect a spike up upon reaching this level.

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