Daily Trading Strategies on Gold/Forex

Discussion in 'Commodity Futures' started by Gold Trader, Jul 30, 2006.

  1. although gold is moving above 590, it would be encountering a cluster of resistance around 596~599 area.

    watch for sharp reversal.

    current price: 592
    directional bias: bullish
    probability: medium but limited
    action: hold long

    good luck

    gold trader
     
    #151     Oct 16, 2006
  2. suggested stoploss: 588.5 (you might need to adjust with broker's spread)
     
    #152     Oct 16, 2006
  3. exit long or reduce some load @ 593.5

    suggested stoploss @ 591.5 for intraday traders.

    good luck

    gt
     
    #153     Oct 16, 2006
  4. long @ 595
    stop @ 591

    good luck

    gt
     
    #154     Oct 16, 2006
  5. 597~600 area would be a very strong resistance zone.

    exit long @ 597

    good luck
     
    #155     Oct 16, 2006
  6. i think gold is a bit weak at current price.

    short @ 596.3
    stop @ 601

    good luck

    gt
     
    #156     Oct 17, 2006
  7. what time frame (s) do you look at when trading gold ?

    depending on the time frame ... gold can appear strong
    or weak

    :cool:
     
    #157     Oct 17, 2006
  8. it is intraday and short term timeframe.
     
    #158     Oct 17, 2006
  9. exit short @ 589.5
     
    #159     Oct 17, 2006
  10. hotboats

    hotboats

    Thank you Gold trader, I trade GG and it seems to follow the price of gold pretty closely. I follow your price calls and it helps me to trade the stock.:)
     
    #160     Oct 17, 2006