Sir, I simply cannot/will not let gold move against me by $3, let alone $20-$30 Furthermore, the shear speed of the move is what I am talking about, not the price action Can you talk about your gold trading strategy? PW
first decrease your size jump from ZG to YG let the market breathe a little be very careful between 7.30-8.30 central time because you might see not 6-8$ spikes but rather 20-30$ spikes in a very short period off time watch currencies euro, pound,WATCH SILVER, watch oil know where are your daily,60 min MA are and make decisions based on that information and lastly know the fact that gold likes to fake you out a lot.
What is 'right now'? Now to last week? Now to last month? Now to last year? Right now to last few weeks looks like a rangebound market.
I do not understand why everyone seems to think that gold is headed down. It has been trending up for the last 2 weeks. The dollar index has been trading sideways for the last month and at the rate our government is printing money, the only direction for the US dollar in the long-term is down. The COT index for the last 6 months indicates that the commercials are 100% long gold. Seasonally, gold goes up in December. China and the oil-producing countries are buying gold, possibly out of fear that the US may not be able to repay it's ever increasing debt. All of these factors seem to point to gold going up. I would be very interested in hearing why people think gold is going down. Especially since I am long a bunch!
best to you man...Gold is great in that you can give it "MASSIVE FOCUS"...meaning, Gold is one item...I trade all types of futures and forex etc....I trade out of the central time zone...love trading Gold and the Euro/USD
man, it is a great contract to trade: 1 point = $100.00 USD...has great moves and can become literally consumed with this one contract to trade...great contract to trade..