I got into the USD/NOK trade it's having a hard time taking out the 7.70 level, at what point would you feel that it has broken through, and add to the position. It hit 7.65 a few times but bounced back.
Now that the PMs have pulled back, at what level would you jump into gold and platinum?
USD/NOK has a strong support at the 7.70 level, it made a low of 7.64 and traded below 7.70 but it did not close below 7.70, we need one or 2 closes below 7.70 to confirm . I do not know from which price are you short, just use a trailing stop you are comfortable with to protect your profits, do not use too close of a stop though. I am holding on to my short position ,it is right at 7.70 , let us see if we get a close below this week, or early next week.
As for the metals, I am watching for a strong close, the only metal as I said before that was risky was palladium since it went up in a parabolic move, it sold off and lost close to $75 in 2 days .