my first GOLD trade

M

marketsurfer

gold appears to be setting up for a continued downwave. i will be shorting the gold futures when the line @ 4024 is broken.

this is my first metal trade. see attached chart action for details.

best,

surfer
 
has become a bullion dealer in spot

please please ... remember April 04 is lead contract

starting later this week with rollover

so F 04 ? nope don't even think of it
 
Quote from nkhoi:

seem like cash lead future, wonder if this is the case
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nkhoi,


Nice Chart.

Is there usually such a nice correlation between the stocks and futures. The XAU definitely gave a much earlier and cleaner signal to trade then did the futures

Lower risk entry at 425-430 risking to the the high 432?

Thanks for that bit of info.


Best Regards,
Dave Scott
 
Quote from wdscott:

marketsurfer,

Is this a daytrade or position hold?
Is your objective on the downside 390?

Looks Good!


Dave Scott
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it will be a position hold if triggered. this is my first foray into metals.

thanks !

surfer
 
Quote from marketsurfer:

this is my first foray into metals.

Depending on one's style, commodities are a good way to complete the square. Stocks - bonds - currencies - commodities. Oil, gold and copper are a good start. If you like gold check out copper too, it’s a great market. LME is better IMO. Cheers
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