Tuesday, March 20, 2007

Gold Futures Trade

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I made two ZG trades this morning.
On the first one, ZG gapped above yesterday's intraday downtrend. That was a bullish sign, so I looked around for a somewhat lower risk entry.

On the second one, it was a beautiful pattern. How could I not take a shot at this possible breakout ? Anyways, I bailed at the first sign of trouble.

Here is the reason why I did not trade ES this morning:

I would have been scalping for pennies and likely wind up in frustration.


Gav said...

Nice ZG trades, phileo.

Phileo said...

Hi Gav,

Thanks! Now I just need to show that it was not a fluke occurrence....