sujithsstorock
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Gold calls.Long term -medium term and intraday calls in gold is here !.
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sujithsstorock
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first target met
Last edited:
Hi all. Havent posted before but been watching the action avidly.
Entered Gold @ 777.78, stop 775.78. Still in for the ride. Targetting 787.78
(IG)
Like Doberman been having a bit of a losing streak with the mkt doing the reverse of what i think it will. Been holding my stops too tight and chasing too big gains so not banking any profit.
Learnt a lot over the last 100 pages so hoping that my education starts to pay off.
Entered Gold @ 777.78, stop 775.78. Still in for the ride. Targetting 787.78
(IG)
Like Doberman been having a bit of a losing streak with the mkt doing the reverse of what i think it will. Been holding my stops too tight and chasing too big gains so not banking any profit.
Learnt a lot over the last 100 pages so hoping that my education starts to pay off.
Covered DOW shorts I think we go up a bit while gold makes right shoulder iHnS
edit
the beautiful thing about having an option in play is you can place futures orders against it with no stop and no risk (except eating into option profit)
I am making out every day shorting v this DOW call
edit
the beautiful thing about having an option in play is you can place futures orders against it with no stop and no risk (except eating into option profit)
I am making out every day shorting v this DOW call
Last edited:
welshandy1
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welcome and good luck Owenda
Sujith,
That stop loss at 706.80 was very very risky and I suspect a lot of people were stopped out at that support level. That small H&S on a 1 minute chart was pointing to a retest of that support. I placed the stop loss at 705. What's your thought on this for next time (placement of stops around support levels)?
artful_dodger
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Fundamentals are at work beyond the charts me thinks.
The market is not reacting well to F&F. Global liquidity is drying up, which is bad for all assets classes. In this case cash is best...and shorting if you can do it well!
I am sitting on my hands until bigger signals come along.
The market is not reacting well to F&F. Global liquidity is drying up, which is bad for all assets classes. In this case cash is best...and shorting if you can do it well!
I am sitting on my hands until bigger signals come along.
sujithsstorock
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yes 775 is a good stop. Moreover i have a buy signal once again after stop was hit. You can hold your buy. Targets same.
sujithsstorock
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you waited it to travel from 795 till 804 to confirm your 'heart ' a buy signal.Late entry , wrong entry.
You buyed at 792.4 , when it fell too fast from 798 to 791 $. That went to hit your stop.Again here you waited to buy as your heart was buy biased.
Mistakes
1)You are following your heart rather than support or resistance.
Rule to remember
1) never 'sell' after a more than 5 $ 'fall' or vice versa in LONDON session.
2)never 'sell' after a 5 $ rally 'up' or vice versa in NEWYORK session
3) don't look at the fluctuating numbers on the platform. Take hourly graph to see price movement. (hourly charts will give tick by tick running rates, so don't worry-incase you are unaware).
4)take out 2 $ profit at a time. Don't wait for too long in market.First build up confidence rather than profit.
5)stick around here 🙂
Hope this will help.
sujithsstorock
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really ? I saw kitco chart late. I saw a spike down and thought it must have hit. Anyone got stopped out with that call ? If no , i will update
Thanks Sujith,
Sold 2 contract @ 787 (entry 780.90), holding 1 for next target. Did not move stop loss from 775. Any thoughts?
hey srock, i've been hanging around at this thread for quite some time, thanks for all the tips and guidance! i really appreciate them!! (although I didn't follow any of them...)
I have a less technical question: can the decline in gold price be caused by the US dumping gold for dollar so that they can pay some of its debt at the end of the quarter? I'm kind of new at this, so just a thought...
I have a less technical question: can the decline in gold price be caused by the US dumping gold for dollar so that they can pay some of its debt at the end of the quarter? I'm kind of new at this, so just a thought...
Ah - there was a spike, but I think it was before your call..
