Next new low on GBP/USD should start its rally

Im not putting too much on this trade but one I definitely intend to take. Waiting for a new low on the British Pound somewhere near 1.6430 to take a long position..

 

 

Gold at a turning point..

 

I stated in the previous Gold posts that I was expecting the rally to top out near the 1380's, and the move finished at 1392..  The drop was sudden with out any good retracements making it hard for bears to join , so I have been scalping a few here and there.. The last few hours the selling intensified and we dropped from 1325 to 1307 in the space of an hour or two.. In my opinion this was a sign that this wave from 1392 has been completed.  I scaled in a few longs near the low building a good position for tomorrow, my average is 1310. Fingers crossed for tomorrow.

 

Trade ideas : March 5 2014

Long EUR/NZD at 1.6320 : 

 

 

Long Crude Oil at 102.60 :

 

 

Stops and entry on the first trade are clear (blue and red lines). As for Crude oil, my target was near 107, which we didn't get to, so in my opinion the trend is still up. As long as its over 102, I will attempt to buy again in case 102.60 doesn't hold... 

 

Intraday short - GOLD 1347.5

In my gold updates, my last view was to enter short Gold near 1343.. It has reached this level, and stalled there, which usually means, there's a little more upside left.. I have another order to sell at 1347.5... Lets see how this turns out later in the day..

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Update:  Out of this trade at breakeven...  It got to 1350, which spooked me.. Waited for a pullback and got out.. It might have put in the high of the day, and Im expecting some consolidation in the 1335-1345 range for a few days before breaking higher later this week.. will try another small short entry if we get near the highs again today..

 

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Update : Gold has made yet another new high of the day at 1354,  I was short at 1347, so I sold again at 1352 and now almost breakeven at 1350 (current price)..  I am getting that feeling that I am 'very wrong on this', so im gonna exit yet again and just stay on the sidelines for now.. I think everyone is short and stuck in positions after todays action, and the market will probably punish the shorts further tomorrow with yet another huge unexpected move to the upside to set up the high of this swing from 1178..   Expected target 1384.

 

 

 

 

Swing short, Crude oil

More on this later,,, but crude oil on 106.70 is a swing short... Huge potential..