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  #1  
Old 05-11-2010, 03:29 AM
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matthew matthew is offline
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Default Gold Trade up 45 pips

I think there is a 75% chance gold will sell off. I like placing two different trades on my meta trader account these will be on the mini account.

I like buying gold at 1216 and also putting an order in to sell gold at 1187. The difference between the two is 29 points. This will act as my stop if I get hit on both orders. By trading this way I'm letting the market choose which way it wants to go.

gold.JPG
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Old 05-11-2010, 06:12 PM
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I lowered my selling position to 1198. We got filled on our buy position
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Old 05-11-2010, 08:33 PM
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my sell position is now at 1228...we are locking in 12 points of profit.
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Old 05-12-2010, 04:32 AM
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got out of my buy order of 1216 for a profit of $11.50. I still have the sell order of 1228. I'm placing another buy order at 1235.

I think the market will sell off we are at a 100% retracement level in gold. We hit a major barrier here. If we break through 100% retracement I may be long.
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Old 05-13-2010, 10:25 PM
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got stopped out of the position and lost $7.50. I'm up a total of about $4.50 on this trade.

I'm getting ready to sell soon.
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