We already have booked 26 dollars this week trading in and out -- which is not really what I want to do on a swing trade, I'm trying to find us good trades that last one to two weeks. But its been probably the toughest trading environment I've seen in quite a while.
We made a low at 1599.60 ---- just above yesterday low at 1599. Silver made a new weekly low at 28.40 and it continues to worry me that silver is acting so weak. The pattern looks very weak and its going to have to move pretty soon. That push down to 28.40 will be important to hold. We had 28.30 as support for today and the bounce back to28.80 leaves it at the support line on the hourly chart.
So with the trend still up on short term --- I've re-entered here at 1605.50 ---but there is no guarantee that we won't go lower. At least we have a 26 dollar cushion from the trades this week. So I'll re-enter here and move my stop up as soon as possible.
GOLD CURRENT TRADE
(For Spot Use one dollar higher as futures currently lower than spot)
=========================================
Buy 1 April Mini gold at 1605.50
STOP 1579 loss
Will adjust the stop up as soon as possible.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
