sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
Gold calls.Long term -medium term and intraday calls in gold is here !.
- Thread starter sujithsstorock
- Start date
- Watchers 330
wibblewibblewibble
Junior member
- Messages
- 48
- Likes
- 0
that's me long again at 828.1, stop at 821 for a run up to 835 or so...
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
this weeks strategy should be
sell gold at 817 $ with stoploss at 827 $ , tgts 812-808-805 -799-780-free fall
or
buy gold above 840.5 $ stoploss 827 $ tgts 845-851-855-863-873 $
sell gold at 817 $ with stoploss at 827 $ , tgts 812-808-805 -799-780-free fall
or
buy gold above 840.5 $ stoploss 827 $ tgts 845-851-855-863-873 $
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
this is liable to change ...iif it crosses 840 $ first, then this gets invalid.
francisfinley
Established member
- Messages
- 902
- Likes
- 46
can you tell me how you arrived at this diagram? theres obviously some support around the 822/4 region as oil kept on falling friday (dollar rising) whilst gold did not?
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
if u notice the graph, u will find a number of supports lying thr.822 $ held it. good.bounce back most likely,, but u can see that , gold is sittig upon this support for some time now.this is eating up the energy held by the support of 822 $.in short,support is getting weaker-i expect it to break.
below 822 , u witness a support at 817.5 $.if this is surpassed, then gold can retset 799 $ (its a fibonacci support). let me add, whenever u find a cluster of supports of resistances in chart....the only reliable one is the fibonacci levels.u can see i extended the fall below 805 $ till 799 $ (another reason is, sentiments say 805 $ is strong support n traders are likely to buy thr.so it falls more and triggers stops of alot who kept stoploss just below 800 $- thats a mind game
)there after the bullish senario over takes n stuff...lets leave it to the time to prove.
hope u got the story :smart:
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
am not sure of this oil scenario....it can touch 118 $ too , but should fall back eventually.
it would be safe to sell below 110 $
it would be safe to sell below 110 $
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
As expected ,Support of 822 $ broken. Its 818 $ now
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
Will be back at newyork session. Happy trading guys
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
Gold is a sell. Stoploss 823 $.Check the above post for sell targets.
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
sell call initiated.Make stoploss to 824 $
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
Stop hit. Risky traders can hold with stop 827 $.
Loss of 7 $.
Loss of 7 $.
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
Market is getting bullish.Might target 827-830 $. But wait to buy.If buying , then stoploss is 816.75 $.
francisfinley
Established member
- Messages
- 902
- Likes
- 46
if u notice the graph, u will find a number of supports lying thr.822 $ held it. good.bounce back most likely,, but u can see that , gold is sittig upon this support for some time now.this is eating up the energy held by the support of 822 $.in short,support is getting weaker-i expect it to break.
below 822 , u witness a support at 817.5 $.if this is surpassed, then gold can retset 799 $ (its a fibonacci support). let me add, whenever u find a cluster of supports of resistances in chart....the only reliable one is the fibonacci levels.u can see i extended the fall below 805 $ till 799 $ (another reason is, sentiments say 805 $ is strong support n traders are likely to buy thr.so it falls more and triggers stops of alot who kept stoploss just below 800 $- thats a mind game
there after the bullish senario over takes n stuff...lets leave it to the time to prove.
hope u got the story :smart:
all fairly obvious bud. you seem to not mention what oil is doing and what the dollar is doing and this is why your preminitions this morning were way out.
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
i did give a oil chart. USD is really very bullish and going to hit 80 soon.Oil is just pumping itself inorder to break below 110 $.
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
reason for todays loss was a very old rule !. Never compromise with stoploss. If we had kept the same stop of 827 $ we would not have got hurt so badly.Now price is 818 $. Below 817 $ can do the sell call.
francisfinley
Established member
- Messages
- 902
- Likes
- 46
but its too high, today has been choppy but if you check the charts each day monitor the $ from close to 6am GMT you can see the play from 6am GMT - 12pm GMT.
the $ fell, gold rose.
the $ fell oil rose.
weve changed tack around 13.48 and now we are selling off oil and gold.
the dollar stabilised @ 13.48
sujithsstorock
Veteren member
- Messages
- 4,236
- Likes
- 42
i always advocate to watch curriencies at an interval of 8-10 hours only , if u intend to trade on gold or oil with respect to currencies.They do get decoupled at times.I don't give much importance to its hourly to 4 hourly rallies.(it came down below 76 inorder to fill up gap felt earlier)
oil, well . . . This dude is doing crazy stuffs like this for a while and making other commodities go bizzare.If u see this kind of oil spike is coming every 8th trading day cycle.Last time you witnessed such a spike from 112$ to 117 $. I had given a chart few pages back indicating this recent rally of oil till 122 $ and the fall back too.This is just inorder to keep the upper falling trendline healthy(technical point of view) , and clear some short stops(sentimental).
The choppy nature we see today, if u check the daily graph , picture will be clear.Its a dumping signal.A huge sell off expected. I give the time frame to be around oil inventories on wednesday.Till 830 $ is not crossed above , i suggest to sell on every rise.
