Forex Market Clock

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Friday, 15 July 2011

XAU/USD trading strategy

Moving average is still a very useful indicator though it is very basic and simple.

The red line in the picture below is moving average

Gold price increases suddenly and i am not aware of it due to i busy and have no time pay attention to euro debt news recently. To me, euro debt news like sea wave. It comes and it goes.

Since the price of gold has increased so much already, i don't want to bet my money on the gold price will continue to climb up.

I set a sell stop order to bet on the gold price will drop down a bit eventually. Overall, the gold price will continue increase eventually. However, since the gold price increases so drastically thus I believe it will drop. If it didn't drop, I has nothing to loss as it is a sell stop order.

posted from Bloggeroid


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