Daily Trading Strategies on Gold/Forex

Quote from hotboats:

Thank you Gold trader, I trade GG and it seems to follow the price of gold pretty closely. I follow your price calls and it helps me to trade the stock.:)
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welcome!

please also note my calls are for very short swing trading only.

anyway, intraday and short term swings are big enough to take profit or loss.

like today, it is big enough to take us out of market with a huge loss within a few hours if we are in wrong side of the market.

good luck

gt
 
Quote from Gold Trader:

i think gold is a bit weak at current price.

short @ 596.3
stop @ 601

good luck

gt
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it is pretty strange today that while everyone was expecting gold to move higher and 600 barrier was only an inch away, gold fell more than 1% sharply in a few hours.

this is what you might call it manipulation.

gt
 
there is a lot of resting stuff around the 600 level and its done a lot in past few sessions.
only real thing seen for the sell off today is the dip in oil and that not really dont a lot today.
Good CB buying was evident when we rallied up to 590 despite oil posting lows at 57.24. Those buyers were not about today.

Recovering well as I type though.
 
Quote from Gold Trader:

current price: 589
action: hold long
stop: 587 (adjust with your broker's spread)

good luck
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it would have been stopped out.

current price: 588.5

current trend: down
directional bias: neutral
action: none or hold long if you are not stopped at 587
 
although gold is recovering from previous day's loss, risk of continuation of selling is still developing.

current price: 591.5
directional bias: neutral to slightly bullish
action: none or hold long
suggested stoploss: 589.5
 
it would have been stopped out as gold reversed after a roller-coaster ride all day.

current price: 588.5
directional bias: bearish
action: none

good luck

gt
 
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