February 21st, 2010 | 
Author: 
"I like the emphasis on money management and variable portfolios"
Weekly Report w/e 20 Feb 10
Euro gold breakout
The most interesting market action I have noted this week is the breakout of the Gold price in Euros on the weekly chart below. This is very significant, especially as the chart pattern – a flat topped triangle provides the launch pad for a potential run of around 20% in Gold, as priced in Euros – meaning the correction is now over at least in Euro terms.
Trading update
February has been a time of taking quick trades without catching any significant trends. The markets have been disturbed by the Euro situation and as already noted this has created a lot of uncertainty, which has already been priced into this market – however, the market remains a sell as long as price continues to decline with each fresh news item on Eurozone sovereign debt. In all it has been quite a tricky time to trade and therefore I have been keen to limit any downside through stop setting and cancelling any orders that do not trigger straight away.
This can appear rather disjointed though the benefits are that I can retain as much trading capital as possible for the times when conditions are more favourable. This also allows a number of trade opportunities while restricting losses as far as possible. .
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Posted in o. Weekly Roundup