Gold…Closing Trade Alert!

From today’s A.M. Look.
We’ll be closing these out before the rest of the premium erodes later in the A.M.


We’re closing out (Selling) the Long April 1600 calls.

In general it has held Friday’s unemployment open of 1575.
As long as this maintains above 1585 it can try to run the 1600 stops with an attempt toward 1620.

Traders will be far better served day trading the futures.
You’ll make more money and avoid the time premium erosion.

The original idea behind using the options on Unemployment Friday was Downside Risk Mitigation.

130314_125332_CQG_IC_Chart_GCEJ3_-_Gold_(Globex)_Apr_13_Daily

This entry was posted in Archive and tagged , . Bookmark the permalink.