Gold, Oil & Indices (Equity & Bond Indices)

Gunjack, yea done well on the instruments I been covering here. The thought that occurs to me, which I hesitate to mention for fear of sounding ever patronising, is the room has been largely perma bear. The tendency of guys here has been to look for shorts every time we break up from a minor correction. Instead of climbing on board the higher trend !

The higher prices move the more psychologically difficult it is for traders to jump in so the disciplined trader simply stands aside in frustration and the undisciplined trader constantly attempts to fade the trend. Fading the trend is taking the path of most resistance so have to be extremely nimble. Going with the trend is much easier and more profitable.

What I try to do is to take profit off along the way at target levels and keep moving stops up in a long trade. If I get finally stopped in a ret I might then play south but only with a scalping mentality until such time as the higher trend looks to be reversing. So every time a minor ret looks like it has completed I am back looking for the higher trend entry set-up and start the process all over again.

Trying to program our minds to look at charts objectively is not easy when we are getting bombarded with a constant stream of fundamentals information plus everyone elses opinions. Its very difficult to become impervious for chart analysis.

Dear Ashraf ,

What is your opinion on Gold / Oil Ratio and Gold / Silver ratios , Resistance and support levels ?

Thanks.

well crude made my 109.87 target level today. Next beer stop a jump to 113.55 ish, trailing stop in place.

gunjack where you believe oil is heading from here

Time coming to go in all guns blazing into a short in crude...poss next week...lets see how the latest israeli massacres in Gaza effect ME sentiment