Intraday / Swing Trading Gold.

It depends on your total account size and potential moves that can go against you. There is too much risk to carry futures over the weekend for small investors.
 
NominalSpeculator said:
ok here's my take on it. FYi i also catched this one with 50x leverage till 1258
It fell at exactly 13:30 GMT when the jobs data and beat estimates significantly.
it first fell 0.6pc and stagnated for 20mins, enough time for the serious market participants to digest that release and then fell further till 0.9pc% before going back to 0.71% atm, most def because of profit taking in a low liquidity environment.
The situation, fundamentally right now is skewed towards gold falling because
1. the amplitude in the Gold move is on par with that US - T Bonds while it should be higher
2. Before, the situation where we would have better numbers than expected was a quasi tail risk.
Problematically it does not make sense to be in gold right now at all as it is not clear which opinion is winning.
More...
Would that be Fed related? Strong jobs number increases the likelihood of rising rates, decreasing the value of the bonds?
 
I trade XAUUSD so it's not too incredibly big for the moment. Nevertheless thanks for trashing my thread before I have really started: it made me look better at my exit points. :-) No more fixed 6.50 most of the time. Still convinced this is a good long here ...
 
johnnyrock said:
Would that be Fed related? Strong jobs number increases the likelihood of rising rates, decreasing the value of the bonds?
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yes. mama yellen is dying to add those 25bps asap because she suspects she screwed big time by not doing it before. so whenever mama yellen get's a positive job report this makes the chances of her pulling the trigger much higher.
Gold is driven by real free risk yield differentials.
 
Let's stay with the technicals please. Like I told you I am not interested in the fundies here in this journal. You don't make money trading fundies (although your reasoning might seem sound).
 
https://imgur.com/a/mhm3i

1f58MOk.png
mhm3i
1095396467204202
 
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