Trading Signals for Tuesday, January 29, 2013

It is the second day of the week, and not much movement is seen in the markets. May be it indicates a sign of a big trend build up. Nevertheless, I am continuing with the same patterns that I formed yesterday, one of the entry order triggered, and it is fairly in the green territory. The long term scenario seems towards down south, but the mid-short term ranges point upwards.

Since, our further entry orders and the stop losses are in place, hence our equity is fairly secured. Will wait for the rest of the day and beyond that for the week to come up with definite patterns.

Moving forward towards the commodities, both the bling metals are showing an upward trend, though I am still not convinced with it. To me it seems, a little drag down can come any time. Till it does not come, it is an excellent opportunity to scalp for 1-2 pips to bring up the equity, but a word of caution here, be very very careful and put clear stop losses and tight take profits, of course varying upon your own equity and margin levels.

Best of luck...
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