my first GOLD trade

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

 

the GOLD chart

 

nice chart ... almost as colorful as harry's

what month do you intend to short ?

 

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

 

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

 

marketsurfer,

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

Looks Good!


Dave Scott

 

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

 

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

thanks !

surfer

 

Those wanting to short gold might want to wait until 415 stops are taken out (based on Apr contract) before deciding.