Gold is up as expected, and the Dollar Index is down as expected
GOLD PRICES ARE UP THIS WED A M 10-21-2020 AS EXPECTED. Move "stop loss orders" upward to an area that is above your entry point. If you are trading multiple futures contracts a defensive strategy would be to take 1/3 of the position off in a profit, and move a stop loss order on the remainder to protect capital.
THE DOLLAR INDEX IS DOWN THIS WED A M 10-21-2020 AS EXPECTED. Move "stop loss orders" down to an area that is below your entry point to protect gains. A defensive strategy is to take profits on part of the position and use a stop loss to protect profits on the remainder.
The ROBERT N. BURGESS SCHOOL OF ANALYSIS AND TRADING IS RIGHT - Again!!!!
Traders, who have followed my analysis and trading technique, currently have "protected positions" [good entry points with unrealized gains, realized gains, and stop loss orders in place, to protect trading capital. AS ALWAYS, THERE IS RISK IN TRADING, BUT THIS APPROACH HAS TRIED TO LIMIT RISK AS MUCH AS POSSIBLE -- but No Guarantee to current success or future success is ever given or assured!! TRADING IS RISK!!!!!
Now, traders will see if the potential for larger moves in Gold and Silver develop on the upside, and whether larger declines develop in the Dollar Index on the downside!!!!!!
We will see???? Have a good Day!!!!
AS PRICES MOVE IN A PROFITABLE DIRECTION, Move "stop loss orders" to protect gains!!!!
THE DOLLAR INDEX IS DOWN THIS WED A M 10-21-2020 AS EXPECTED. Move "stop loss orders" down to an area that is below your entry point to protect gains. A defensive strategy is to take profits on part of the position and use a stop loss to protect profits on the remainder.
The ROBERT N. BURGESS SCHOOL OF ANALYSIS AND TRADING IS RIGHT - Again!!!!
Traders, who have followed my analysis and trading technique, currently have "protected positions" [good entry points with unrealized gains, realized gains, and stop loss orders in place, to protect trading capital. AS ALWAYS, THERE IS RISK IN TRADING, BUT THIS APPROACH HAS TRIED TO LIMIT RISK AS MUCH AS POSSIBLE -- but No Guarantee to current success or future success is ever given or assured!! TRADING IS RISK!!!!!
Now, traders will see if the potential for larger moves in Gold and Silver develop on the upside, and whether larger declines develop in the Dollar Index on the downside!!!!!!
We will see???? Have a good Day!!!!
AS PRICES MOVE IN A PROFITABLE DIRECTION, Move "stop loss orders" to protect gains!!!!
Comment:
WED 10-21-2020 9:56 a m Central - Gold prices are near the resistance high recorded on Monday 10-12-2020, therefore traders that are content to make a good, quick gain can take profits. Technically, because the monthly price action / monthly price bar is an "intra-month reversal higher," with potential to trade and close higher by month end, prices should be able to absorb through the resistance and if so, continue to rally?? No guarantee, but that represents the potential?? We will see????
Comment:
WED 10-21-20 10:20 A M -- Defensive traders should be moving stop loss orders to protect profits in Gold, Silver, and the Dollar Index!! For long term traders willing to accept near term risk, which in this trading situations means giving back unrealized gains, for larger "potential" gains - later, this week's low in Gold has become the most logical stop loss position!!