Daily Trading Strategies on Gold/Forex

gold is in a tight trading range. and i believe it woul be preparing for a breakout. it would be on either side.

my current directional bias is becoming neutral at this moment. closing above 578~580 in 1hr chart would be a potential upside move.

closing below 571~570 in 1hr chart would be possible huge downside move.

current price @ 576.5
directional bias - neutral
 
current price @ 574
directional bias - slightly down

if you short, hold short with stop around 578.

it is to capture the b/o

short @ 571
stop @ 575.5

long @ 578
stop @ 573.5

good luck
 
current price @ 576.5
directional bias - slightly bullish

if you are long at 580, stoploss would be around 574.
if you are short, you would have been stopped out around 578.
 
Quote from Gold Trader:

current price @ 576.5
directional bias - slightly bullish

if you are long at 580, stoploss would be around 574.
if you are short, you would have been stopped out around 578.
More...

correction: if you are long at 578, stoploss would be around 574.

currently gold is showing strength to upside breakout. it could even happen during asian session.
 
gold moved strongly as expected. there is a high probability of moving higher next week.

current price @ 589
hold short with stoploss around 584 area.
 
as much as I want higher prices and more than likely higher
volatility in the metals

unless the Euro and oil markets cooperate
and move higher ... the gains in the metals
will be limited next week or even retrace the higher
prices seen late friday

oh heck ... maybe the XAU big caps will rally with the
SPOOS and the spot metals - futures will tag along for the ride
 
Quote from Gold Trader:

gold moved strongly as expected. there is a high probability of moving higher next week.

current price @ 589
hold short with stoploss around 584 area.
More...

correction:
current price @ 589
hold long with stoploss around 584 area
 
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