today gold breaks 200 dma, for the first time since mid June
so I think it will be more realistic to short, especially for short or medium term
so I think it will be more realistic to short, especially for short or medium term
Trading Journal (only my take) 385 replies
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DislikedFeel 1280 should provide short term support and we move back up to 1292-1300 in the next days… that or 1268 but for some reason favoring 1292 first. Guess we can't really forget about NFP tomorrow which is gonna be massive….. A lot of times ahead of big news event like that we see very tight range dominated by traders…. so maybe something like Buy 1280-1281 and sell 1285.50 is what we'll see the most for the next 12-16 hrs…. Don't even know if I'll have a trade open before NFP… usually kills me.Ignored
Disliked{quote} Indeed. I closed shorts opened 1298 and 1295 at 1282, and now on sidelines waiting for NFP. Though bias looks short, think we could see pa to 1300, particularly if NFP disappoints.Ignored
Disliked{quote} Just a note for the nfp it could be very very tricky the thing is the 80-90 zone could forme a bottom that dosent meen it could not spike at news time i would advice for buying low in this market , the maid reson really is i belive the gold has found a bottom i would be very happy to see it back to the 1290-300 zone that i belive its needed now to be tested befor it falls back down again to the 1200 - 1180 zone one more time Any way at the end we trade what we see not what we belive in (",)Ignored
DislikedJust wayyyy too many longs… When I see that longs dip below 70% and more people are shorting then I can have faith in gold going up, until then sell sell sell every rally. I still think we're going to go to 1000 within the next year or two I'm a broken record though. Have a good one guys!Ignored
DislikedYes I've read similar articles..they all point to a bottom operating price of 1100$ per ounce...if the gold falls below it, the mining companies said that they will either cut production or shut down the mining until price goes above, but I don't believe that they will cease the production in total if that happens..Ignored
Dislikedmake no mistake, gold is a highly manipulated asset and its "real" price is way more than what we are seeing today. But this is an investor point of view, not trader. My two cents: We should see a range between 1180 and 1400 ish in the foreseeable future.Ignored
DislikedI used to work in this industry and small changes to the price of gold can actually shut sites down. The overheads are formidable with massive production costs.Ignored
Disliked{quote} Does any know what the cost of gold is to extract it from the ground? If gold cost a mine $1230 o/z to dig up, And gold is at $1283. When would miners stop digging? Interesting thought to ponder..Ignored