Any advantage trading the ZG over the GC?
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Daily Trading Strategies on Gold/Forex
- Thread starter Gold Trader
- Start date
long gold-spot @ 644
stop @ 641.5
target @ 651
stop @ 641.5
target @ 651
Quote from jsmooth:
Long YG @ 610
Stops under $600 longer term bullish gold trade (bearish usd play into 2007). Hopefully the Euro and Pound will bounce off its 50% fib ret. and breakout price level from a few weeks ago...if that happens i'll be adding to this gold position. Best of luck all.
Long Position closed out at 648.3....The resistance at 650 - 655 seems pretty strong, not to mention how weak the euro is trading (its not bouncing off 1.2900 as i thought - looks like a long period of consolidation might form at this level), the pound is also starting to retrace, and oil prices arent going to move the gold market anytime soon....maybe the USD isnt as weak as i thought it would be going into '07.
Spot rallied twice as much as the February contract today. Does this have any major significance?
Long GCJ7 @ 635.50
Trailing Stop @ 640.40 , (15 point trail)
Current Price @ 654.50
Long GCJ7 @ 635.50
Trailing Stop @ 640.40 , (15 point trail)
Current Price @ 654.50
daily chart is forming a serious selling pattern. price above 650 will only invalidate the pattern. otherwise, i would expect a deep fall.
short @ 644.6
stop @ 648.5
target @ 632
short @ 644.6
stop @ 648.5
target @ 632
short @ 650 (stopsell)
stop @ 654
stop @ 654
-Spot rallied twice as much as the February contract today. Does this have any major significance? -
one should not look at feb 07 anymore ... the lead futures contract is Apr. 07 now ... and in a few months the lead futures contract will be June 07
( this is for USA $ denominated gold futures traded on the ECBOT
and Nymex - Comex contacts )
one should not look at feb 07 anymore ... the lead futures contract is Apr. 07 now ... and in a few months the lead futures contract will be June 07
( this is for USA $ denominated gold futures traded on the ECBOT
and Nymex - Comex contacts )
If the $DXY breaks to the downside we may very well test 81 or even 80 by mid March early April. However, a close above 85.50 would be devastating for Gold. I was stopped out last Friday for a nice $20 profit (caught the move from $635 to $655). Currently neutral until the DXY breaks either way.
Attachments
Market short - but technically looking very fragile. If oil as it looks like it is carries on towards 55 then gold n sil targetting 635 and 13.20