yes, very weird for the friday after thanksgiving (holiday trading)..honestly, look for HUGE move down once market opens this Sunday night into monday morning...we got a great,huge short/sell set-up today....overall mood of Gold is bearish...in my opinion...
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2 Gold Spikes
- Thread starter PFWinkler
- Start date
Tough call.
I am mostly a scapler looking for 5-6 ticks in my favor
I got hurt big-time today on those two huge spikes
I was profitable for 95% of the day, (shorted the first spike, after being caught short into it! @ $820.60, covered @ $813.80 for a nice profit)
I scapled for the rest of the day placing about 5-6 trades--all winners for 3 to 7 ticks of profit
Than....I was caught short into that massive move higher @ 12:35ish---was FORCED to cover @ the top @ $821
What a horrible way to end the week
I am mostly a scapler looking for 5-6 ticks in my favor
I got hurt big-time today on those two huge spikes
I was profitable for 95% of the day, (shorted the first spike, after being caught short into it! @ $820.60, covered @ $813.80 for a nice profit)
I scapled for the rest of the day placing about 5-6 trades--all winners for 3 to 7 ticks of profit
Than....I was caught short into that massive move higher @ 12:35ish---was FORCED to cover @ the top @ $821
What a horrible way to end the week
Nice. I didn't catch it, but i'm long a shit ton from 50 (USO 41) for the IT here. IMO gonna bottom.
I think gold is a sell, but that just one mortals opinion.
Generally speaking I agree, but 1) Our view doesnât matter, itâs the markets that does 2) The underlying strength (or bid) in the market has been very intense as of late. I am not sure if it a central bank has been buying or what, but there seems to be a consent bid in the market (aside from the intraday action)
Thoughts on those two monster spikes today?
PW
Thoughts on those two monster spikes today?
PW
just before gold moved up $50 last week (and I lost big time), gold had been having these spikes up on a daily basis.
Was also surprised to see the spikes up to-day. I subscribe to an EW site, which states that gold may spike up a few more dollars, but is on track to move much lower.
I think you're right about the Fed buying gold, which it has been doing alot of. Perhaps to-day,moreso than usual as they may have tried to come in off the radar.
Was also surprised to see the spikes up to-day. I subscribe to an EW site, which states that gold may spike up a few more dollars, but is on track to move much lower.
I think you're right about the Fed buying gold, which it has been doing alot of. Perhaps to-day,moreso than usual as they may have tried to come in off the radar.
what are you talking about?? what monster moves?? these little spikes off couple $ this is just the way gold trades plus shorter day, lower volume, less participants thats normal. dollar started to climb back up and euro is falling again so don't be surprised to see gold dive next week in to mid 700's it might fake you out spike another 20-30 points and then begin to dive at least thats what i'm looking for.
me too