Today is profit taking day for gold.
There is a very distinction connection between trading commodities and forex because almost all commodities futures are quoted in USD. This means whenever EUR/USD make a tank, commodities will follow. Gold is especially sensitive to USD movement. As in all science experiments, gold vs USD is the hypothesis and my trades here are the actual tests.
Yesterday night, while we asian pacific folks are sound asleep, Eur and gold both tanked, lucky me managed to take my gold profit next day (very late morning after my morning jog and after 8 hours of beauty sleep).
Gold (comex August)
closed all shorts at 1546
profit: +6 +76 ticks
bot 1548.8 1542.5 (adding on to loser, non-professional please do not imitate!)
EUR/USD
closed out short at 1.4609
lost: -9 pips
bot 1.4623
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