Under the resistance...

FX:XAUUSD   Gold / U.S. Dollar
51 7 0
... and a retest of the former uptrend line. Waht does it mean? To me it means a chance of another test down.
And a first profittaking has just taken place. I am leaving some more gold sold for some more profit, I hope.
O.K., let's call it a day. I am going sleeping now and don't want to leave the position open overnight. So I am closing all an am happy of the profit given by this idea. Gold is trapped between 2 lines and it is not clear where it will move finally. So I won't hold a position at risk at moment when I am not in the market to react duely. Whe the price leaves the trap it may move veryfast in the direction of the outbreak. When this will happen tomorrow I hope to be there in time. Good night!
+1 Reply
One last comment on this "golden" advnture: We saw the fast outbreak today and it seems that the bulls have won the battle. I missed the outbreak as I have to sleep sometimes. I will be not engaged here for the next while.
jangseohee motleifaul
its good that you take your profit away, else you get stopped out again the 3rd time if i remember correctly
well done
motleifaul jangseohee
Don't worry, friend. I'm in plus for this year so far. As for gold I was stopped out twice and took profit twice as well. All over it was a loss with gold. But I'm happy tat I followed my own path and didn't listen to those who thought that "gold could even jump until 1300" then. Thus I coudl reduce my loss substantially.
And as a principle: It is not the single trade that counts but the final result of the sum of all deals. 2014 I had a profit to loss ratio of 50:50 and a profit ratio of 24% of the capital until November(even more until the end of the year, but not calculated yet). So, no matter whether I was stopped out 3 times or more often. Over the year it was many, many times. So what?
jangseohee motleifaul
haha, i think i am the one speculating that it might go to 1300..
its good to hear that you have your own plan, stick to it :-)
yes, irregardless of how many time i got stop out, final results counts
jangseohee motleifaul
its 1260 at the moment..
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