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

[Sprawl123]

Ok todays action I would envisage a drop to around 815 then up to 830...

hi wideboy,
you sticking to this?
818 seems good support...
i'm long at themom (but a bit nervous)

 

[Wideboy]

hi wideboy,
you sticking to this?
818 seems good support...
i'm long at themom (but a bit nervous)

Yes at the moment it does.
However its only really been tested once and people will expect it to hold therefore go long, therefore the market does the opposite and falls straight through it.
Well thats my plan I do however feel that the market will rise after a small retracement.

Good luck with your long, whats your stop?

 

[Sprawl123]

817, so not much room....
I thought today and 2mrw would be carnage for stock mkts, and commods up, gold 845 by 2mrw.
i actually just reduced at 820 LITERALLY 3 seconds before it gapped up!
arghh!!

 

[Wideboy]

I'm watching 824 carefully, if that holds we have a small double top, else we can see 830 easily

 

[Sprawl123]

good point, i'll watch out for that, thanks.

Was thinking of going long gold in EUR and GBP... long GOLD vs USD is giving me a headache.

Anyone have an opinion on this?

 

[Wideboy]

Stopped out -6

 

[yvij]

Talking heads on CNBC have been hammering gold saying it will go to $600. I usually take this as a sign to go long as from history you should always do the opposite to what the media says.

Anyone else belives this?

 

[Sprawl123]

Stopped out -6

nevermind at least your success rate is about x8 better than mine!!

 

[Sprawl123]

Talking heads on CNBC have been hammering gold saying it will go to $600. I usually take this as a sign to go long as from history you should always do the opposite to what the media says.

Anyone else belives this?

Who on CNBC? are you talking about hugh hendry from electica fund?
I have seen some analysts bullish on gold on bloomberg/cnbc
The banks are divided too... Goldman bearish (but bullish oil, if that makes sense), Citi bullish.
I guess you jus have to have your own view really

 

[yvij]

What price is gold out now?

 

[Sprawl123]

What price is gold out now?

827

 

[yvij]

Who on CNBC? are you talking about hugh hendry from electica fund?
I have seen some analysts bullish on gold on bloomberg/cnbc
The banks are divided too... Goldman bearish (but bullish oil, if that makes sense), Citi bullish.
I guess you jus have to have your own view really

Not sure who but they were talking real sh** not even from a technical view.

 

[yvij]

827

Gold will move up very quickly so people do not get chance to get in.

770 was bottom and this will not be a dead cat bounce.

Tomorrow Gold will reach 850.

Dow will fall big tomorrow and this will result in Oil/Gold rallying.

My personal view.

 

[Wideboy]

Jumped in again. Long @ 828 targets 830->836->865 longer term - stop 817

 

[sujithsstorock]

Jumped in again. Long @ 828 targets 830->836->865 longer term - stop 817

bad trade from my point of view .

 

[Wideboy]

bad trade from my point of view .

I appreciate your input, could you tell me why you think its bad?
I assume its a risk/reward reason?

Oh and by the way I spreadbet the near future so my prices I quote here are generally $1 above spot usually.

 

[yvij]

S rock would you say a entry around 815 is good to go long?

 

[sujithsstorock]

Talking heads on CNBC have been hammering gold saying it will go to $600. I usually take this as a sign to go long as from history you should always do the opposite to what the media says.

Anyone else belives this?

you have burned your hands last time. Will tell you the locations to go long. Keep patience.Going long for medium term is not suggested.

 

[sujithsstorock]

I appreciate your input, could you tell me why you think its bad?
I assume its a risk/reward reason?

Oh and by the way I spreadbet the near future so my prices I quote here are generally $1 above spot usually.

getting in at so high price , then risk to reward aint worth it.

Previous short you could have holded with stoploss 832 $. You might have got your price.

 

[Wideboy]

getting in at so high price , then risk to reward aint worth it.

Previous short you could have holded with stoploss 832 $. You might have got your price.

Thanks I see your point.
I expected a larger pullback to 815 which never happened. That to me shows strength, hence a long position is needed. Perhaps I haven't got in at the best price...