Gold calls.Long term -medium term and intraday calls in gold is here !.

[sujithsstorock]

US closing is above 930 $. Buy at dip with today's low as stoploss.

 

[Wideboy]

US closing is above 930 $. Buy at dip with today's low as stoploss.

My short has been stopped out at +1

You could be right now, as price has formed 3 higher lows on the hourly timeframe.
934 is the level to watch as this has shown to be resistance recently and is a key fib level.

Although on the flip side, its forming a nice consolidation at the lows on the 4 hourly which would signal a significant move south.

 

[yvij]

wideboy you was in good profit bro. S Rock is right about using traling stops so would have been in profit on the way down.

In future I will trade with Futures Betting rather than CMC as they do not offer trailing stops.

S Rock how much of a distance would you put trailing stops?

 

[Mr.J-Arthur]

As close as you are comfortable. There is no rule about how tight or how wide your stops are. You want to take home profit as much as possible, even if it's a small profit.

I just shorted gold @939.8 covered for 1$ profit.
anyone trading E-mini s&p 500? I just scalped 4 ticks, good volume.

Gold is stagnate. How the hell is anyone going to be able to catch a single gap up @6:15 am!
What a flat day. I'll take my small profit. time to go to the gym and workout!

 

[yvij]

J Arthur what ticker are you trading on Gold? I trading XAUUSD spot cash daily and the high of today so far has been 932.9! Strange they must be manipulating the price with the company I'm trading with.

 

[sujithsstorock]

S Rock how much of a distance would you put trailing stops?

if you have only one lot in trade.Trail stop at every support or resistance points.And exit if you find your trail stoploss is too back.

Other thing is, if stoploss is just 2 $ or below that and you got risk appetite for 4 $ , you do trade in 2 lots.First lot exit at first target and trail the remaining cost to cost. And hold it for long.

 

[Mr.J-Arthur]

Haha, Yvij-who is your brokerage? I'm with Think or Swim-tight spreads, great service and I can trade stock, options, futures and currencies with their platform.

The ticker for CBOT (Chicago Board of Trade) MINI gold is always /YG. The 100oz contracts are /ZG which is 100$ for every 1$ in Price of Gold (POG).
XAUUSD is spot gold, which is a different contract I think.

I looked up XAUUSD and it doesn't even load. What country are you from? Is XAUUSD a currency pair or something?

EDIT: WOW WHERE IS THE VOLUME FOR OUR BELOVED GOLD? This is looking scary..shorts, are you ready?!
if you want to trade, check out /ES or the other mini futures...gold is dead right now.

 

[yvij]

Right seems you all trade in LOTS. I'm in London and use spread betting which is tax free.
XAUUSD is Gold vs USD spot price. Basically for every point move I make or lose 70GBP. Basically a $1 move on gold is equal to 700GBP profit or loss so yeah i'm in deep. Gold is weak and dow down almost 200 points. WTF????

Will gold test next support and bounce or will it be downtown charlie brown?

I'm uder a great deal of stress and pressure and not sure what the next move is to do! Any sound advise guys?

Should I close out now and take huge loss and renter when price is right to recover and be back in profit. My funds are now streched and cannot hold below $900!

 

[yvij]

ok simpler terms do you see 946 before 900?

 

[yvij]

Getting my A#s kicked!!

 

[sujithsstorock]

Hmmm,winds are not blowing your way.880 $ is likely.Can't you hedge positions in next contrac? I mean sell same number of lots in another contract and hold till golds falls finishes.Then you exit your sells at bottom and hold onto long positions.

 

[yvij]

not posible since my positions all roll into 1 average. Do you think I should sell here take loss and buy near to bottom of support?

your call was correct that it would close above 930. If I can get out around 940 that would be great.

Dow down alot but gold seems lost for momentum.

 

[sujithsstorock]

Hold . 945 can come . Am not giving any word.Just gut and commonsense.

 

[yvij]

Yeah I guess thanks for your support. Once I get out of this position I will follow your calls as you are 80% correct on your trades. Great Job!
Duded get some sleep!!! Where abouts in India are you?

 

[sujithsstorock]

Gold can test 880 within 4 weeks then start off to 1000 $.Well 940 or above can come.I don't see any reason why not.Am optimistic .

 

[sujithsstorock]

South of india.Yes going to sleep.Too late tonight.Was preparing for my seminar topic.

 

[sujithsstorock]

Yes keep this

buy gold around 928 $. Stoploss 923 $ target 932-934-939$

 

[yvij]

Wow I hope so, may try to slim down a little. Thanks

 

[Mr.J-Arthur]

Yvij-My friend,

I can't give you specific advice because gold could do anything (and I do not want to take responsibility for your loss)! I do see 880, it is possible. Today there was VERY LITTLE volume! That means if the larger fish jump in the pond-the waves might sweep you under!
I scalped gold today for a little gain, but the volume is so LOW I'm staying out until volume picks up.
Low volume scares me.

WHY the HELL are you SPREADBETTING with that huge HEAVY leverage?!!!
1$ move in gold = 700 GBP HOLY SH*T MAN. START DRINKING.
YOU SHOULD HEDGE THAT POSITION!
I'm not trying to be and A-Hole mate, just a little scolding from trader to trader looking out for you!

This will either make you-or break you into many pieces. Is this all the money you got or is it risk capitol that you can afford to lose?

I suggest staying away from "spread betting" as it sounds like gambling.
You need to trade like a pro and limit your loss ASAP. But now you're down so much..it's hard to know what to do...

Stick around here and we'll show you the ropes.
Buckle up, you're going for one HELL of a ride!
If you're older than me (I'm 20!) then make sure you don't have a heart attack!

Good luck, I hate to see a fellow trader lose. Remember, nearly every market is a Zero-Sum Gain...

 

[Mr.J-Arthur]

S.Rock-You must be rollin' in the dough?

I missed the gap up but that's okay, I made my $$ in e-mini s&p.

880 tomorrow anyone ???
I'm thinking of shorting this low volume gold..