Scary times .....Long from 1940 again.....stoploss to entry now
Came out of gold at entry of 1840 last friday...but bought back in again at 1840 as a long.... ...I should have banked more profits at 1950 and along the way from the 1840 trade taken before xmas...lesson learnt...bank, bank bank..It is so easy to become complacent when there is a lot of profit in your account and make mistakes.....I think gold will head back up next week. Markets got spooked friday when there was a misrepresentation in the news that one of the democrats would block a 2000 stimulus cheque in stimulus package Biden is pushing....This statement was corrected by 7pm along with Biden saying he would go through his proposed stimulus package next thursday and that it will be massive....The news statement had initially given the wrong information spooking the markets......watch the way both gold and Dow Jones turned around and went up after 7pm gmt...The Dow got back up quicker than gold granted, but I think gold will follow Monday. Probably most traders were too worn out and too scared to buy the severe dip in gold at that stage. I bought in again near the bottom, even though I was worn out and scared also.... I am still crapping myself, but hoping it goes up next week....stop loss to entry on the trade before Friday close just in case....hoping for a rise on open tonight........I am taking profits before all NFPs in future....and not buying in until after 5pm GMT on NFPs....If we can get over 1850 tonight and hold getting up to 1970 or 1980 Monday and climbing... I think it will be positive again for gold....Head down to 1800 or below and there is something very wrong with this market.....Hedge fund COT data showed they increased their longs on gold as of last tuesday...this could have changed by friday of course..We will know next tuesday. .. Best of luck everybody...
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