Tuesday, November 13, 2007

Long Gold

I wanted Gold at 800, I took it at 805.1


Was stopped on Gold after it first went +15, then came back, jumped my StopLimit order at 805.3, traded down to 802.9 (disaster stop in gold is 30 ticks). I considered an Add-On at 803.1, but Gold bounced too fast for an entry there. Now it's back to 806, but unable to trade higher. Stop at 805.2, as I don't want to be in, if this 805-806 area get's rejected a second time.

Stopped at 805.2


Whether this most recent Schiffline is valid (starting at 791.5 upto 810.3 and downto 802) I don't know. Have used so far only Lines with starting points farther back in the past. Will have to watch that one.