Technical Drop in Commodities

The correction today has made the market unstable with several traps on the way down of 3000 pips of silver and a drop of nearly 20 USD in gold. I took this opportunity to take a dip trade and made a small profit out of it. I've made USD 48 only for today. The highest P/L is over 400 USD earlier but I didn't took profit because I was expecting it to return to higher pace yesterday. Anyway, I took my profit. It's little but I've achieved more than 90% of my balance this month.

I'm thinking of terminating my daily post in this blog as I feel it's lost it's meaning. I initially created this blog to share but in the end, I'm the only person contributing. Anyway, I will make 10 last posts starting from tomorrow. If things continue to be this way, I will terminate it.

Thanks Everyone

Happy Trading

Home Sweet Home...

After 10 days back in hometown, I'm now writing this in Kuala Lumpur as I'm back home. I couldn't update my blog yesterday because I had to sleep early and wake up early for my journey back home. Anyway, I'll just keep this post plain and simple, I didn't managed to make much money because I wasn't there to observe the market when it was dropping hence my confidence was not there and I took profit of only USD 7.30.

Anyway, for the future market to see, I'm expecting a big correction in silver as judging from the wave theory of Elliots and trend channel plus last year's market correction. It's getting near. It might rise to near to 14.80 and the correction might just happen as history might tend to repeat itself and I feel the resistance of 14.8000 is pretty strong. Needs a whole lotta funds to break that barrier again to reach 15.30.