Thursday, March 19, 2009

Update on last (post) trade

As I mentioned last time...I am holding my long gold position but have now hedged it with a 6 lot short position. When you are sure of a short term trend (within a larger one) you can do this. It also squares your account equity at an accelerated rate. It will be the 38% retracement level that I will be confronted with a significant decision.(Clicking on the chart gives you a clearer view):


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