- Joined
- 8 August 2009
- Posts
- 287
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- 221
Still waiting on further price action,but at the moment 4488 is a key technical resistance line.I'm still of the opinion there's still more of a downturn to come,We still follow the dow,XAO hasn't decoupled on it's own yet.
Interesting to note consumer confidence reports/unemployment on wall street next month will be a true indicator on where we are heading.
Personally as a investor/day trader the risk to reward ratio must be looked at.
I mean short term top to 5000-5100 on the xao is a 10% gain.But the loss can be 10-50%(granted if the 3700 key resistant line holds).
So i see myself only using Cfd's on a daily basis.(In short 100% of my portfolio is in cash at the current time,Only trading day to day until i can see more solid evidence on which way we are heading.
So with the last few threads saying 5000 on the xao by xmas,I'll go the otherway and say 3700 before xmas,maybe by march we will see the previous march lows again(going on ew)
gogo my shorts
Interesting to note consumer confidence reports/unemployment on wall street next month will be a true indicator on where we are heading.
Personally as a investor/day trader the risk to reward ratio must be looked at.
I mean short term top to 5000-5100 on the xao is a 10% gain.But the loss can be 10-50%(granted if the 3700 key resistant line holds).
So i see myself only using Cfd's on a daily basis.(In short 100% of my portfolio is in cash at the current time,Only trading day to day until i can see more solid evidence on which way we are heading.
So with the last few threads saying 5000 on the xao by xmas,I'll go the otherway and say 3700 before xmas,maybe by march we will see the previous march lows again(going on ew)
gogo my shorts