Gold - Refresh Update and Adjust stop 05042011

Members add longs: 1337, 1340 and 1355.

Nothing change last weeks. We reduce risk and close positions from 1337>> 1366(+29) and 1380(+43) and 1415(+75) from 1340. Still long and expect 1600 next weeks/months stop all position 1379.

Positions close:

1337 Sold 50% =1366 (+29) and more 50% at 1380 (+43)

1340 - Sold 50% = If fill 1415 (+75)

Position stil Open:

1340 close the rest (50%) if fill 1475 stop 1405

1355 - Sold 50% = If fill 1500 and more 50% if fill 1645 stop 1405

We reduce risk but we area buyers and will add more gold if pullback again.
But for now with indicators overbought important only reduce risk with good gains next order 1475 move stops 1405 all positions.

Click to zoom in. Courtesy of @ mktrendmember





Weekly Chart



4 Hours Chart





EURUSD Daily Market Thought 05042011

Euro remain bullish last months. Looking to weekly and monthly major resistance sitting between [1.45,1.47]  area, but for now euro remain unable to break last year high 1.4281.
Short-term nothing new last sessions still trading small range between [1.4050,1.4220].
Last swing high, started last week and  reversal today with bearish divergence price/indicador (again unable to break and hold 1.4281) first  signal that possible EURUSD is losing momentum.
Euro losing momentum last sessions but trend remain bullish above 1.40, bullish target remain intact for now [1.45,1.47] is the key level( major resistance) but before that bulls need to break 1.4281.
Bearish scenario close daily below 1.40 expect 1.3826 possible extension to 1.3580 next weeks.

Click to zoon in. Good Luck folks.