US Treasury Henry Paulson said US government agencies will provide liquidity and capital support to Freddie Mac and Fannie Mae. This signals to me that they will need to print more money. Hence USD will continue to go weaker and precious metals will rise.
Bought 1 lot of silver at 19.14
Stop level at 18.60
Target level at 20.00
Value of 1 point is US$1000
Today I had bought 1 lot of silver at 19.14, stop level at 18.60, target level at 20.00.
Oil price had plunged $10 pulling down precious metals as well.
Silver went below 18.60, so my stop was triggered. Loss is US$540.
My previous silver trade was stopped out. But in my opinion, getting stopped out is not the end. Since I am bullish on silver, I should buy again at lower level or at more comfortable level.
Getting stopped out does not mean that my view is wrong, it just that I had entered at the wrong entry point.
Bought 1 lot of silver at 18.96
Stop loss level at 18.40
Target level at 20.00
Value of 1 point is US$1000
Oil prices tumbled Tuesday as U.S. stocks sold off amid worries about the nation's economic health. Prices dropped more than $10 a barrel from their highest point of the day. At midday, light, sweet crude fell $6.27 to $138.91 in an extremely volatile session.
I think this is a good opportunity to buy oil after the huge drop within a very short period of time. In my view the drop is not due to fundamental, it is market overreacting to Ben Bernanke's speech.
Bought 1 lot of supermini oil at 138.56
Stop level at 134.50
Target level at 144.10
Value of 1 point is US$100
2. EURJPY again shows upside potential as it attempts to move higher again. Stablised Asia stock market has helped to weaken JPY, helping to push EURJPY higher.
Bought 50,000 EURJPY at 166.34
Stop level at 166.34
Target level at 167
My indicator has shown buy signal for oil.
On the chart, oil is trading in a range of $132 - $146.
Currently oil price is trading at $134.29, so it is near to the bottom of the range.
Any geopolitical events or supply disruption can easily spike oil price up towards $140 again.
Bought 1 lot of supermini oil at 134.29
Stop level at 129.29
Target level at 142.50
Value of $1 is US$100
2. EURJPY again shows upside potential as it attempts to move higher again. Stablised Asia stock market has helped to weaken JPY, helping to push EURJPY higher.
Bought 50,000 EURJPY at 166.34
Stop level at 166.34
Target level at 167
Linear Mode
