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2 Gold Spikes
- Thread starter PFWinkler
- Start date
first decrease your size jump from ZG to YG let the market breathe a little be very careful between 7.30-8.30 central time because you might see not 6-8$ spikes but rather 20-30$ spikes in a very short period off time watch currencies euro, pound,WATCH SILVER, watch oil know where are your daily,60 min MA are and make decisions based on that information and lastly know the fact that gold likes to fake you out a lot.
The dollar is in a bull market right now until it isnt. thats unfavorable to gold.
I do not understand why everyone seems to think that gold is headed down. It has been trending up for the last 2 weeks. The dollar index has been trading sideways for the last month and at the rate our government is printing money, the only direction for the US dollar in the long-term is down. The COT index for the last 6 months indicates that the commercials are 100% long gold. Seasonally, gold goes up in December. China and the oil-producing countries are buying gold, possibly out of fear that the US may not be able to repay it's ever increasing debt. All of these factors seem to point to gold going up. I would be very interested in hearing why people think gold is going down. Especially since I am long a bunch!
best to you man...Gold is great in that you can give it "MASSIVE FOCUS"...meaning, Gold is one item...I trade all types of futures and forex etc....I trade out of the central time zone...love trading Gold and the Euro/USDQuote from PFWinkler:
I am a former (though still alive) derivatives trader based in NYC. I used to intraday trade options on various indexes; but was forced (due to a serious of unwelcomed events) to start trading gold.
You?
today 12:20pm nyc time.. :10 minute chart...huge move up...hugeQuote from thomfergu:
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.