GOLD: wasn't the FED bullish on US Economy (part II)
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Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Note
I forgot to say that the vertical line represent the release of the FOMC minutes. According to USD/JPY the precious metal will hit 1240. It's just a matter of getting the right entry in accordance with the loss you are prepared to soffer. My advice to enter at 1225 and take profit at 1230 with 5 ticks stop. Once passed 1225 the price should get momentum and don't see it coming back. It's a 50 ticks move and if you manage your money the right way every tick is 10 bucks x contract. I do play with 10 contract therefore I would incurr a loss of 500 if stopped out or make a profit of 5.000. If I get stopped out I will immediately re enter same trade one last time. If it doesnt do the 2nd time I will stop and take a total loss of 1.000. This is the idea...but I will see how it goes tomorrow morning in accordance with news, data release and signals from other markets.Note
One Last thing..my target is 1240 but I don't expect Gold it to do it all in one move...at 1230 I will take profits and then I will see.Note
I don't put a 10 ticks stop at the first try because market volatility at 1225 could produce a quick drop greater than 10 ticks before getting full impulse. That is why I prefer to be stopped out with a little loss immediately and re-enter at the 2nd attempt. When doing this I will be watching JPY and Silver as well in order to see if they provide conforting signals for 2nd entry.Note
OK, what did I say? I live out of these moves ok? This is my life! This is my world! Call me NEO! Note
H&S bottom...this is just a reminder of an idea i want to develop
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