Daily Trading Strategies on Gold/Forex

I still believe gold is very bearish........and the failure to break the 100 day ema is not postive.

I have decided to sell at right now at 626
 
Closed trade earlier at 621, for small profit

I am going to long at 624 now since there seemed to be very good support coming around the 620 region.

Technically gold still weak, but fundamentally, the US economic figures do not look too promising. With a possible tropical storm/hurricane appearing near the Carribean heading towards the Gulf and the Lebanon/Iran situation all have risks, it gives the upside more advantage in gold.

I see in the medium term, these couple of weeks may signal the breakout for gold to head towards 700 again.

Keep a good eye on oil, gold is tracking it a lot lately

We shall see
 
Stopped out around 620, i usually have a stop of 4-5 dollars.

Anyway, going long again but smaller size.......

long 619
stop 616
target 630
 
this time we will be looking at silver (spot) daily chart.

currently, silve has been showing strength and i believe that breaking above 12.67 (strong resistance) is very much possible in a few days.

12.00 level is also showing the strong support level.

gt
 

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I having been watching the mini Gold contract trade for a few weeks, IMHO it doesn't appear to lend itself well to daytrading. If you trade strictly off of price(technicals) there seems to be much better vehicles out there. Much better to hold some physical for a rainy day, and forget the mortgaged variety.
 
hello sir

the last few weeks have been slow in metals

yet I have been able to make some nice coin ( pardon the pun)

you will not find people pumping on ET that they can make millions trading metals but I am sure there are people
( not on ET ) making 10 times what I am making
trading them ... and I am having a good yr tradingwise
 
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