Thursday, May 02, 2013

GOLD UPDATE: 02/05/13 06:43HRS

GOLD:

Price has done very little over night.

However it has done enough to stop me at break even by 1 pip.

The high on the chart is 1459.60

The Gold market is closed each evening from 00:15hrs to 01:00hrs.

During this time the spread widens from the normal spread of 3/4 pips to 8/9 pips.

This has caught me out.

Chart below:

 
The only draw back with having the two orders is that sometimes you are are just a little bit to close to the market price when you to break even.
 
If you wait for the higher level (2nd Entry) then you don't get in at all.
 
On to the next one.
 
EUR / GBP looks nice to the short side.
 
I will update again if it ticks all my boxes.
 
Have a good day.
 
 

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