Silver had a big drop of $14 last week, after margin requirement was increased for trading silver.
This week, I believe market will actually do a pull back before any drops can be seen.
We can go long if market breaks above 36.42 with stop loss about $0.50. Target exit is around 38.60 and 2nd target that silver may climb to is 41.30.
Failing gold rush?? - 9 May 2011 Monday
Gold price fell about $113 last week. This week, I believe market will continue to drop lower. With a high possibility that gold price may climb to a high $1518 before any further drop can be seen.
Therefore, I favour picking long when market retrace to $1480 - $1485 regions with stoploss about $5. Target price is as mentioned $1518
Therefore, I favour picking long when market retrace to $1480 - $1485 regions with stoploss about $5. Target price is as mentioned $1518
Eurusd update - 9 May 2011 Monday
Last week, market fell 640 pips after falling short of my target 1.5000. However, with proper risk management and skills, even if we did not take profit at the top. Stoploss triggered will also enable us with small profits.
This week, I reckon that market will go for another dip. However, there are 2 possibilities. Firstly, market may continue to drop further to 1.4200 to complete the wave at the start of the week before any retracement can be seen. Or 2nd possibility is that market may go back up to 1.4600 to complete the correction before turning down.
I foresee that market will likely go for the 1st possibility. Therefore, favour to pick short around 1.4400 with stoploss around 40 -50 pips. Target exit is at 1.4200.
This week, I reckon that market will go for another dip. However, there are 2 possibilities. Firstly, market may continue to drop further to 1.4200 to complete the wave at the start of the week before any retracement can be seen. Or 2nd possibility is that market may go back up to 1.4600 to complete the correction before turning down.
I foresee that market will likely go for the 1st possibility. Therefore, favour to pick short around 1.4400 with stoploss around 40 -50 pips. Target exit is at 1.4200.
Eurusd update - 6 May 2011
Good day everyone,
Yesterday, Eurusd fell 390 pips! Amazing!
I took profit when market fails to hit 1.5000 and formed multiple tops at 1.4899!!
Today, I expect market to trade back to 1.4750 regions. Establish long when market breaks above 1.4585 with stoploss around 40 - 50 pips. Target at 1.4750!!
Yesterday, Eurusd fell 390 pips! Amazing!
I took profit when market fails to hit 1.5000 and formed multiple tops at 1.4899!!
Today, I expect market to trade back to 1.4750 regions. Establish long when market breaks above 1.4585 with stoploss around 40 - 50 pips. Target at 1.4750!!
Eurusd update - 05 May 2011
Good morning everyone,
Yesterday, Eurusd formed a doji with a very long shadow at the top.
Looks like 1.4940 is our current resistance and I believe eurusd might turn down if fails to break above our reisistance.
However, strong support is at 1.4815.
Today, I will exit all my long positions at 1.4900 with stoploss all shifted to 1.4815.
I will also place a short entry near 1.4940 and a stoploss just slightly above 1.4940.
Yesterday, Eurusd formed a doji with a very long shadow at the top.
Looks like 1.4940 is our current resistance and I believe eurusd might turn down if fails to break above our reisistance.
However, strong support is at 1.4815.
Today, I will exit all my long positions at 1.4900 with stoploss all shifted to 1.4815.
I will also place a short entry near 1.4940 and a stoploss just slightly above 1.4940.
Eurusd update - 4 May 2011
Good morning everyone,
Eurusd is still in consolidation. Waiting to break either side.
However, I still favour eurusd to climb higher and target top remains at 1.5000 regions.
Favour to pick long around 1.4785 with stoploss around 1.4740. Target remains at 1.5000 regions.
Eurusd is still in consolidation. Waiting to break either side.
However, I still favour eurusd to climb higher and target top remains at 1.5000 regions.
Favour to pick long around 1.4785 with stoploss around 1.4740. Target remains at 1.5000 regions.
Eurusd - 03 May 2011
Good morning everyone,
Market fell to our targeted bottom yesterday. I have entered long at 1.4780 with 50 pips stop with target exit at around 1.5000 regions.
However, today market formed a long shadow down. There are high possibilities that market may actually turn down today.
My view will remain the same as I am still holding long. I also favour hunting for long when market trades near 1.4750 with 50 pips stop and target exit will remain as weekly outlook at 1.5000 regions.
Market fell to our targeted bottom yesterday. I have entered long at 1.4780 with 50 pips stop with target exit at around 1.5000 regions.
However, today market formed a long shadow down. There are high possibilities that market may actually turn down today.
My view will remain the same as I am still holding long. I also favour hunting for long when market trades near 1.4750 with 50 pips stop and target exit will remain as weekly outlook at 1.5000 regions.
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