Gold Intraday: capped by a negative trend line.Short positions below 1270 with targets @ 1239 & 1222 in extension. ( 21/11/2013 07:49 )
Our preference: Short positions below 1270 with targets @ 1239 & 1222 in extension.
Alternative scenario: Above 1270 look for further upside with 1279 & 1286 as targets.
Comment: the break below 1270 is a negative signal that has opened a path to 1239.
Supports and resistances:
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Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.
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