Silver and Gold trading
- Thread starter maarnio
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RahmanSL
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Not much progress in your account these past couple months.
I would suggest you take some "Short" positions on the EUR/USD next week as it is expected to trend downwards from the 1.39 - 1.40 level....but, of course, if there is a strong show of breakout past that level, wait for clear reversal before going in.
Personally, first thing on Monday Asian market, I will preset "Sell" on EUR/USD at 1.4200
Gold & Silver are not good for trading these past month and I will sideline them until they have cooled and come down to at least the Jan'11 level before going in Long.
All the best!
I would suggest you take some "Short" positions on the EUR/USD next week as it is expected to trend downwards from the 1.39 - 1.40 level....but, of course, if there is a strong show of breakout past that level, wait for clear reversal before going in.
Personally, first thing on Monday Asian market, I will preset "Sell" on EUR/USD at 1.4200
Gold & Silver are not good for trading these past month and I will sideline them until they have cooled and come down to at least the Jan'11 level before going in Long.
All the best!
maarnio
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Already short the Euro. I might go long Euro towards the end of the next week. I am starting to think that we might get eur/usd past 1.5 or even 1.6 before summer.
Agree with you on gold and silver. I might wait till end of summer before going much long them.
Best with your trading!
Agree with you on gold and silver. I might wait till end of summer before going much long them.
Best with your trading!
RahmanSL
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You already Short the EUR?... Wow man!... I hope you Short it at least at the 1.4 level as it has possibility of going further up North from last Friday's market close.
And yes, I too believe EUR/USD will retrace upwards again after it has hit the 1.4 level and retrace downwards to maybe 1.37 - 1.36 level...But I am very unsure how far North it will go from there....1.5 & 1.6??...hmmmm, possible...but I will observe the charts and also see who else is screwing up our planet Earth before I commit.
All the best!
And yes, I too believe EUR/USD will retrace upwards again after it has hit the 1.4 level and retrace downwards to maybe 1.37 - 1.36 level...But I am very unsure how far North it will go from there....1.5 & 1.6??...hmmmm, possible...but I will observe the charts and also see who else is screwing up our planet Earth before I commit.
All the best!
maarnio
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Closed some of my EUR longs around 1.4 last week. I agree that we might get some pullback from around 1.4-1.41 next week. I am planning to buy EUR again from 1.38-1.39 area.
RahmanSL
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You "planning to buy EUR again from 1.38-1.39 area".??
Hmmm, I think I will wait and only go in at the 1.37 level...would be even better at 1.36...but, as you know, we can wish for all we want but market will just ignore us.
However, I will most certainly go in on Short positions at the 1.4 (or even immediately at 1.39) level on Monday.
Hmmm, I think I will wait and only go in at the 1.37 level...would be even better at 1.36...but, as you know, we can wish for all we want but market will just ignore us.
However, I will most certainly go in on Short positions at the 1.4 (or even immediately at 1.39) level on Monday.
maarnio
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If we go under 1.37 next week, I will exit my EUR longs. I would like to see the 1.38 level hold for my bullish bias.
RahmanSL
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Ok maarnio, you have a safe and profitable week.
I am going to sleep now as it's only 7 hours before start of New Zealand market.
Also, I have a busy work day ahead of me as one of my major project works is coming to an end........but then again, I don't want to miss out on some good tradings either : )
All the best!
I am going to sleep now as it's only 7 hours before start of New Zealand market.
Also, I have a busy work day ahead of me as one of my major project works is coming to an end........but then again, I don't want to miss out on some good tradings either : )
All the best!
maarnio
9pmest.com Representative
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Thanks Rahman,
How was your week? I think next week Eur/Usd will be in 1.395-1.365 range.
<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>
How was your week? I think next week Eur/Usd will be in 1.395-1.365 range.
<a href="http://www.9pmest.com/forex/DetailedStatement.htm"target="_blank">View my forex results</A>
RahmanSL
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Hi maarnio,
Again, I don't see much changes in your account...and is also extremely surprise that you did not trade Silver and Gold when it was trending downwards last Friday.
I messed up on the USD/JPY trade just after the huge earthquake and tsunami disaster in Japan (my heart felt sorrow for the Japanese people).
I had 6 opened "Sell" positions on USD/JPY when it kept advancing upwards and reducing my free margin drastically.
To prevent possible impending threat to my account, I started reducing lot size by closing out fractional opened losing trades.
But within minutes of closing out these losing trades, the USD/JPY dropped like a ton of bricks and that's when I learned of the huge disaster happeing in Japan. But the damage to my account was done as I had already taken some heavy losses.
However, I made back money trading Silver (and some Gold) on Friday as I took more than 20 "Buy" positions as it track downwards with the last one at 34.10
But I didn't trust predicted near 40.00 level by end of this month (by some experts) as I closed out profit positions as Silver went up (and down) with some TP being triggered at 35.63 level before market close.
All in all, I advanced some 6.3% in my daily profits, which is not bad, but could have been better if I have not taken those earlier losses on USD/JPY.
EUR/USDup to 1.395-1.365 range next week? On market closing, it has shot up somewhat, but.....hmmm, I read some conflicting reports on that pair...I will wait for Sive Morton's analysis tomorrow (Sunday) before I make any commitment on that pair.
I still have 7 opened "Sell" positions on EUR/GBP on Friday's closing, with 4 in profits, but I did not close them out because I think it should go up a bit more. Well, I will find out whether I am correct come Monday when market resume.
Ok, maarnio, I will post again tomorrow after reading and digesting Sive Morton's analysis.
All the best!
Again, I don't see much changes in your account...and is also extremely surprise that you did not trade Silver and Gold when it was trending downwards last Friday.
I messed up on the USD/JPY trade just after the huge earthquake and tsunami disaster in Japan (my heart felt sorrow for the Japanese people).
I had 6 opened "Sell" positions on USD/JPY when it kept advancing upwards and reducing my free margin drastically.
To prevent possible impending threat to my account, I started reducing lot size by closing out fractional opened losing trades.
But within minutes of closing out these losing trades, the USD/JPY dropped like a ton of bricks and that's when I learned of the huge disaster happeing in Japan. But the damage to my account was done as I had already taken some heavy losses.
However, I made back money trading Silver (and some Gold) on Friday as I took more than 20 "Buy" positions as it track downwards with the last one at 34.10
But I didn't trust predicted near 40.00 level by end of this month (by some experts) as I closed out profit positions as Silver went up (and down) with some TP being triggered at 35.63 level before market close.
All in all, I advanced some 6.3% in my daily profits, which is not bad, but could have been better if I have not taken those earlier losses on USD/JPY.
EUR/USDup to 1.395-1.365 range next week? On market closing, it has shot up somewhat, but.....hmmm, I read some conflicting reports on that pair...I will wait for Sive Morton's analysis tomorrow (Sunday) before I make any commitment on that pair.
I still have 7 opened "Sell" positions on EUR/GBP on Friday's closing, with 4 in profits, but I did not close them out because I think it should go up a bit more. Well, I will find out whether I am correct come Monday when market resume.
Ok, maarnio, I will post again tomorrow after reading and digesting Sive Morton's analysis.
All the best!
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