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Khamis, 16 Februari 2012

Analysis Gold - 17Feb12

GOLD (Spot) intraday: further upside.
( 17/02/2012 03:37 )




Pivot: 1713.00

Our Preference: LONG positions above 1713 with targets @ 1742 & 1752.

Alternative scenario: The downside penetration of 1713 will call for 1705 & 1692.

Comment: the RSI advocates for further advance.

Trend: ST Bullish; MT Bullish

Key levels Comment

1763* Horizontal resistance
1752** Intraday resistance
1742* Intraday resistance

1732 Last

1713*** Intraday pivot point
1705** Fib retracement (50%)
1692** Fib retracement (61.8%)


TIPS

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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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