GOLD UPDATE: Thursday 6th March 2014. 15:40hrs

Gold:

After 3 days of sideways price action Gold has finally moved out of the consolidation and into a nice profitable position.

To remind you I am long from 1335 and 1339 Averaged in at 1337.

My stop loss was at 1331.

Price has now moved up to 1346 into profit by 1.5%.

I have now moved the stop loss on both position to 1337 eliminating the risk on the position.

I am happy to hold this position with no risk through the NFP numbers tomorrow.

Chart below:

 

I will update again after the NFP number has been released.

 

Have a good evening

 

Regards 

MDT

Gold: Monday 3rd March 2014. 10:06hrs

Gold:

Gold has been trending up for the most part of 2014.

Chart below:

 

Price has begun to move higher again following a small period of consolidation.

 

Price has made a new high this morning driving a cross in the moving averages.

 

I am looking for a long position as detailed below.

 

Levels and Chart below:

 

1st Entry: 1339.00

2nd Entry: 1335.00

 

Averaged Entry: 1337.00

 

Stop Loss: 1330.00

 

1st Target: 1372.00

2nd Target: 1432.00

 

 

I will update again should the position be opened.

 

Have a great week.

 

Regards.

 

MDT

 

 

 

EUR / JPY UPDATE 7.5% profit at market: Thursday 27th February 2014. 10:42hrs

EUR / JPY:

EJ has continued to move down.

With USD / JPY breaking out of the wedge I am hopeful this trade is going to move toward my end target.

The first position (short 140.25) is in profit by 125 pips or 3.57%

The second position (short 140.00) is in profit by 100 pips or 4%.

Chart below:

 

 

Personally I am happy to hold through the pull back and look to add again.

 

However a profit of 7.5% is very good and you may consider closing here or at least taking some money off the table.

 

As I said I will look to add in again if we see another strong push down.

 

I will update you should I place another stop sell order.

 

In the mean time have a great day.

 

Regards

 

MDT

 

EUR / JPY UPDATE: Thursday 27th February 2014. 08:22hrs

EUR / JPY:

My second order has been triggered at 140.00 and I have moved the stop loss on both positions to 140.00.

This has locked in 25 pips on the first position and break even on the second.

Price has made a new low through 139.60 and I am happy to hold these positions with out any risk.

My end target is 136.40.

Chart below.

 

Hope you guys managed to jump on board.

Have a great day

MDT

EUR / JPY UPDATE: Thursday 27th February 2014. 07:50hrs

EUR / JPY:

Having moved the stop loss to break even on the first position (140.25) I am able to trade again on the next move down without taking on additional risk.

Price has consolidated over night and a break of 140.00 should see price retest the lows at 139.60.

Levels and chart below:

I have a stop sell order at 140.00 with a stop loss at 140.25.

 

Regards

 

MDT

EUR / JPY UPDATE: Thursday 27th February 2104. 07:36hrs

EUR / JPY:

The first order was pip perfect in its location at 140.25.

Price has moved away from the entry overnight and I have moved the stop loss to break even eliminating the risk on the position.

Chart below:

 

I will be looking to add into the position when we get another move down.

 

I will post again should this develop.

 

Regards

MDT

EUR / JPY: Wednesday 26th February 2014. 16:49hrs

EUR  / JPY:

EJ has been retracing and consolidation over the past few weeks.

Price has finally found a top at the 50% Fibonacci level.

Chart below

 

This afternoon price has broken down and a cross in the 60 minute averages has taken place.

 

According to my trade plan, I can now consider taking a short position on a pull back.

 

The only concern is the trend line support below, that however is around 60 pips from my first entry level. As the stop is going to be around 35 pips on average, I am happy to trade into the support moving my stop loss to eliminate the risk well before we test that area again.

 

Levels and chart below.

 

1st Entry: 140.25

2nd Entry: 140.45

 

Averaged entry: 140.35

 

Stop Loss 140.70

 

1st Target: 138.60 (5%)

2nd target: 136.40 (Previous lows)

 

 

 

After a very slow start to the week, lets hope this can make us some money.

 

Regards

 

MDT