Daily Trading Strategies on Gold/Forex

this is what i meant by a big move down.

this is what i am expecting a few days ago. gold charts gave us some clues a few days ago.

good luck

gt
 
Nice call, gt! What kind of clues, if you don't mind?

If you are still short, are you using a trailing stop at all?
 
Quote from sim03:

Nice call, gt! What kind of clues, if you don't mind?

If you are still short, are you using a trailing stop at all?
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most of my calls are intraday and short-term basis as short term swings are big enough to take profit or loss.

if you are trading longer timeframe, you should be trailing the stop.

gold followed technical rules. recent 605~606 area was top and it is possible that it would be going very much lower than current price (576) in a few days.

gt
 
I have been following your positions for a month now, and i see that you are good. Just to congratulate you.

It would be very helpful instead of only posting your positions to write a brief commentry fro the next day.

BNP
 
Quote from kinggyppo:

Here is a chart that shows the move up from $450 to $730 with fib retracement lines. I think the big picture says we are still correcting along with highly correlated oil. The correction came down and we just passed through 50% retrace. The move from $625 has been almost straight down. The next stop is $555.00. (68%). Volume up on down days also. I like gold but this looks like a freight train to me. All the best.
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Here is an updated chart, we are certainly due for a bounce. Only the brave need apply. This chart shows the move up from $450.00 to the high, looks like we retraced roughly 61.80% on the fibonacci line. The words recession, deflation, housing crash, etc. don't bode well long term. Looking at bonds makes me say we are deflating, that is prices are getting cheaper. The technical question is will we continue down to $520.00. Our next stop on the fib line. Only time will tell. Nothing on the downside would surprise me after the last two days, Ouch!!

:(
 

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