Murali Sarma
Trade Guidance, LLC
Yesterday the USD index marched higher sending the basket of currencies it is usually measured against, much lowe and most Forex pairs tied to the USD pulled back sharply. Today, the scene is a bit different but precious metals have not seen much of favor from the USD giving back about a quarter basis points. Silver and Gold both continue lower as you will see from the charts and trade ideas below which we are currently actively trading since early Monday. Gold has a 1796.9 price target and Silver to 22.920 as you will see from their charts below. Our entries short for Gold was 1835.2 and for Silver 23.560. Just now, we elected to have a trailing stop. Stops are the red line [red dashed line for Silver which has the uncanny ability to always go and test the 76.8% Fib level] and the green dashed line is the trade profit target.
Chart of Gold
Chart of Silver
Risk Disclosure: Futures, forex, currencies and stock/options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Past Performance Disclosure: Past performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between actively monitored performance results and the actual results subsequently achieved by anyone using any trader’s newsletter service. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of actual or simulated performance results and all which can adversely affect trading results. Although TradeGuidance never presents hypothetical or simulated trade results, all trades presented can be in a simulated using back-testing to demonstrate similar results.
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