Gold pair update

The position in Agnico Eagle Mines v S&P 500 Index continues to pull back. It has done nothing wrong in terms of its long term development, having formed a bullish RSI divergence at the August low.

The percentage moves in this chart are quite large. Should it go wrong, I don’t want this to affect my P&L too much. This pair would still have to fall another 17.3% to make a new low and stop the position out and that is a bit much.

Therefore I am halving the position size in this pair from this morning.