Discussion in 'Metal Futures' started by myminitrading, May 31, 2006.
This could be the top in Gold.
thanks for letting us know now instead of when gold was above $700 an ounce
by the way ... if this were to be the top ... is it the
top for the yr or a multi yr top ?
also ... what if one gets short here
thats alot of room on the upside
that the market could go against you
if using a monthly chart
Thanks for the FADE!
I am certainly not a SELLER $100 BUCKS down from the high dope. I do appreciate the wake up call, I am liking the looks of ZG below $625. Great book report on Doji's!
I am simple pointing out a possibility. Time will tell I will revisit this a few months from now. Conformation is needed.
so how are you playing it?
I would turn to shorter time frames and watch for weakness, Daily then 60 min. The move from 450 to 720 is parabolic and the retracement could be just as fast.
I remember watching EBAY a couple of years ago and seeing weekly and monthly bearish candles with strong divergence in MACD but the dang thing kept moving up, biased on that experience, liquidating longs would be prudent in Gold but shorting is not my recombination yet!
Opps great fade!
I must say, very timely response to my post, 21 days later.
I will have you know I have made money shorting this Contract as well being long since your "MACRO" call. How many contracts did you trade?
I do not pick tops or bottoms, I just take what the market gives me daily bro. It's not about being right or wrong on an internet chat board, it's about money in my account growing, not yours or anybody else's.
Stick with what makes you a few pennies a day.
......what your view now.....understand you are going with the flow.....advancement this week...short covering??....
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