Daily Trading Strategies on Gold/Forex

i expected gold to be range trading, from there we could see a breakout today or in a couple of days.

no bias at this moment. we would follow with the direction of breakout.

good luck

tradetowin
 
what is "O" ???

by the way ... the payroll numbers usually provide the "breakout"

sometimes both ways in the same session !

:p
 
in technical analysis, trendlines are the simplest form of identifying the trend. by using other technical indicators in conjunction with trendlines, it increases the chance of staying in the right direction of the market most of the time.


good luck!

gold trader
 
short- gold, gbp/usd, eur/usd

some techical indicators (the ones i use) are showing that gold is weakening.

i still hold my view on gold to be on short side. it could be valid untill fed rate announcement, i believe. but i ignore the outcome of fed's rate decision whether it is increased or no change.

i will also hold my view to short on gbp/usd and eur/usd.

more strategies are posted on the web site. we would be going in short side or long side at predefined price levels.


good luck

gold trader
 
XAU is just smashing ! But there has to be a way to get tighter spreads in the spot market, 0.6-.07 USD is just too much, imho.

Where ( or through which broker) do the big guys trade Gold (spot) , anyone know ?

I just can't believe they would pay those spreads - and the futures market is just not liquid enough....











Quote from NZDSPeCIALISt:

O gives you good leverage re xau. Tick charts work MUCH better (fib. numbers) than time . With a 2$ stop you can double your acc. with an $18 move (your risking 10% of acc. - i have pulled of such a trade- people who say i'm risking too much can go jump). trade the us session (8.20 ETam start) because the slippage, if you get into a loosing trade outside these hours, will be heavy. O has a 60-70 cent spread during these times - futs only 10 cents - but with spot you get the leverage and liquidity. Trade fx (aud/usd is my favourite) before this period-european open- and then gamble the winnings on xau in the us period. So really you risk house money when speculating on gold if you pull of a good aussie trade. And gold is white hot at the moment - forex cannot match it for risk/return (unless your dealing in 50 mill.+ in fx per trade). I hope this volatilty continues (and it WILL!!) in xau/usd.
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