Yesterday was a day with high volatility and making a strong comeback after the picture regarding the Italian elections got clearer. Early in the morning we sent our view on GOLD. We were bullish on a possible breakout of the 1587$ high/resistance. If that was to happen, we would buy with 1602 as target and 1570 as stop.
The above chart is what our members received. As time passed by saw the resistance being broken. Today we closed our position at 1601$ after raising our stops from 1570 to 1581 and then to 1588. But Gold reached our target as shown in the last chart we sent.
We all know what happened next. Prices plummeted to 1487, giving us a 1650$ profit per contract (or 50 cfds) when closed at 1490. Not bad for a days work eh?
This is just a small picture of what happened yesterday. You can join for only 79,95$ per month and take advantage of our analysis. Subscribe now
A term used to describe a trader (bear) who is expects that a particular asset – be it a commodity, currency or product – to fall in value. The opposite of a ‘bull’.
The idea is that bears attack by getting up on their hind legs and striking their opponents down with their paws, symbolising the fact that they are sellers driving prices down.
Beliefs held by the aforementioned ‘bears’ of the trading world, are described as bearish. Characterised by a generally pessimistic outlook on the state of a given asset, a bearish outlook would suggest that a fall in value is imminent. Opposite of bullish.
A term used to describe a trader who is expects that a particular asset – be it a commodity, currency or product – to rise in value. The opposite of a ‘bear’.
The idea is that bulls attack by bending their heads and poking their opponents upwards with their horns, symbolising the fact that they are buyers, driving prices up.
Beliefs held by the aforementioned ‘bulls’ of the trading world, are described as bullish. Characterised by a generally optimistic outlook on the state of a given asset, a bullish outlook would suggest that a rise in value is imminent. Opposite of bearish.