Friday, January 11, 2008

Conservative Exits

With Friday here and recalling the horrible track record I have of fading huge trends on the last day of the week, I chose to exit my spot gold short at the most conservative level logically possible.

I applied the .786 fib retracement from the intraday swing my signal came from and placed my buy to cover order there.

A pretty good week, except for the nikkei trades which missed target 2 out of 5 trades and ended up in losses . Spot gold gave so many profitable trades I regret not following the metal market sooner.

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