August 1st nike vapormax pas cher homme , 2007
It's one thing to let your profits run on a trade, but it's also true that it doesn't make sense to take unjustified risks with profit that's on the table. So when I wrote recently to my trading signal clients that I had concerns with what I saw unfolding in the spot Gold (XAUUSD) market it was to protect the profit on the table. On our open long trade I increased the trailing stop to lock in gains of +1.3% for the remaining portion (the other half of this trade was closed for a +3.8% gain).
Why am I nervous? If there's more market risk right now, what is the best way to manage it?
Spot Gold recently posted a big range day that opened near the high and closed near the low.
There have been three more of these reversal days during the past year, and in each case XAUUSD made further fast and significant declines within four trading days. Of course these reversal days don't always deliver further rapid declines, and if spot Gold pushes above the high of the reversal day at 677, then that is a very bullish sign.
I now have a take-profit exit at 669.0 and a trailing stop at 656.81. Spot Gold is currently trading near 667.0. Both exits will deliver profit nike vapormax pas cher , but it's the difference between +1.3% and +3.2% gains, which is worth having if available.
OK, so one of these exits will be hit. Then what?
* If XAUUSD pushes beyond 677, it should go all the way to $750 or more. So I'm placing a conditional buy-at-a-stop entry at 677.0. If this is triggered, the initial stop-loss is 656.81.
* If spot Gold plummets from here (like it did in May 2006, after a reversal day) nike air max 2017 pas cher homme , then I want to be short at 640.0 (sell-at-a-stop), with a stop-loss at 676.0. This would suggest spot Gold is entering its wave 3 decline (in Elliott wave terms) and should eventually continue down to under $540.0.
* It's always dangerous to insist that the market "proves you right" and moves in the direction you anticipate. If you've read my recent article on the global spread of risk aversion, you'll know that I think Gold is heading north. But the beauty of this strategy is that I don't have to be right! Gold can leap up to over $750 or slump to under $540. I don't care - I can make further profits either way.
View the complete article, including a chart of spot Gold, showing the reversal days, and a link to the piece on global risk aversion nike air max 2017 pas cher , at wwwTrendSensorMarketBrief
DISCLOSURE: Murray Nickel holds a long position in spot Gold (XAUUSD), opened at $648.40.
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Murray Nickel is a mathematician, statistician, and professional trader. He offers a free trial of trading signals for global market indexes and index ETFs, spot Forex, and spot Gold. He also mentors trend traders aiming to build consistent success at trading global markets.
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