Gold spiked about USD60 on Friday, 1 June 2012, riding on the dismay news of the US Job Report for May 2012. But is this bullish movement sustainable? Gold prices went up about USD20 on 6 June 2012 but sizzled out at the end of US trading hours.
I don't like to predict Gold's movement. Anyway, no one can predict how any market is moving. I can only be more cautious of the bullish gold movement. That's how I have adjusted my ETP set file. I ensure the entry is more stringent. And when the entry is triggered, I will make sure that I don't ride the profit too far ie. I manually exit my trade if I am able to capture at least 50 to 60% of my profit target.
Yours Truly,
Tony Chai
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