It is fabulous Friday again and I have a suspicion the figures out of the US will cause a few jitters. I like the gold to get to $1300 shortly. It is having a real go at the previous high and has some days of momentum.
The light position that I took on the GBP/USD went against me by nearly 200 pips. This is a relatively light position but still more than the maximum 5% risk of equity that I advocate.
The picture is a bit murky at the start of this week.
Looking at the graph I see,
The gold is struggling to maintain an upward trend.
Still on Gold
The gold is good to trade if you are in light positions. The volatility can give you very fine profits.
I have held on to my trade of early August and lifted the S/L a little to protect a little profit.
Back from being AWOL.
You have not heard from me lately but I am back with so many announcements that it may take weeks to pass them on.
In the meantime the markets are bubbling along.