Gold Mining - Using Each Trading Day's Trend | Page 44 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD

Similar Threads

Scalping Gold using WPR 1,019 replies

Which standard Indicators are most related to each other? 2 replies

Gold Mining II - Using Reference Lines 13 replies

An idea for building wealth...using only gold 9 replies

Trading Gold - An End of Day System 27 replies

Attachments: Gold Mining - Using Each Trading Day's Trend
Exit Attachments

Gold Mining - Using Each Trading Day's Trend

  • #861
  • Mar 27, 2020 4:11am Mar 27, 2020 4:11am
Quoting BiteFX
{quote} Good morning Skoljkica, Agreed brother let's buy up...Just that, the spread is just a killer for me when I look at it...It's like saying to me"come enter the market, and I'll rip your account to shreds"
I feel your pain man
Always expect unexpected.
  • #862
  • Mar 27, 2020 4:12am Mar 27, 2020 4:12am
I am expecting for price to rise up to 1655.00 where I will be looking to short down to 1632.00, depending on price action.
Always expect unexpected.
  • #863
  • Mar 27, 2020 4:16am Mar 27, 2020 4:16am
Quoting Skoljkica
I am expecting for price to rise up to 1655.00 where I will be looking to short down to 1632.00, depending on price action.
Great analysis brother.
Just stay alive sha.
Learn... Work Hard... Trade Alone
  • #864
  • Mar 27, 2020 5:12am Mar 27, 2020 5:12am
Limit 1620...stop Loss 1600.
Learn... Work Hard... Trade Alone
  • #865
  • Mar 27, 2020 5:14am Mar 27, 2020 5:14am
from Global Prime:
“The price differential between the futures and the cash is usually a couple of dollars and the spread is stable. If it moves out of whack physical gold traders can arb by having gold bars refined in Switzerland and shipped to the USA for delivery to the futures market. Due to the corona virus the 3 major refiners in Switzerland have been forced to close down. In addition the lack of commercial flights has stopped gold shipments. This has meant that the spread blew out by up to $65 on Wednesday and is now volatile moving $40 yesterday. There is no shortage of gold just a shortage in the US of a certain type of gold bar (the less popular swiss standard that the CME uses).”

Smells like BS to me? How much gold gets shipped by plane? How much does gold delivery actually affect spot prices?
  • #866
  • Mar 27, 2020 5:28am Mar 27, 2020 5:28am
Quoting clemmo17
from Global Prime: “The price differential between the futures and the cash is usually a couple of dollars and the spread is stable. If it moves out of whack physical gold traders can arb by having gold bars refined in Switzerland and shipped to the USA for delivery to the futures market. Due to the corona virus the 3 major refiners in Switzerland have been forced to close down. In addition the lack of commercial flights has stopped gold shipments. This has meant that the spread blew out by up to $65 on Wednesday and is now volatile moving $40 yesterday....
Since physical gold is now scarce due to Coronavirus pandemic, most people will naturally drift to intangible gold(gold spot) and this will drive its prices higher I think.
Learn... Work Hard... Trade Alone
  • #867
  • Mar 27, 2020 5:34am Mar 27, 2020 5:34am
Skolj, are you in already?
Learn... Work Hard... Trade Alone
  • #868
  • Mar 27, 2020 5:35am Mar 27, 2020 5:35am
Quoting BiteFX
Skolj, are you in already?
No, I'm waiting for price to come down to 1617.00 again, even though I wouldn't be surprised if price finds 1620.00 as support.
Always expect unexpected.
  • #869
  • Mar 27, 2020 5:36am Mar 27, 2020 5:36am
Quoting BiteFX
Limit 1620...stop Loss 1600.
If activated, I hope to ride to 1700.
Learn... Work Hard... Trade Alone
  • #870
  • Mar 27, 2020 5:40am Mar 27, 2020 5:40am
Quoting Skoljkica
{quote} No, I'm waiting for price to come down to 1617.00 again, even though I wouldn't be surprised if price finds 1620.00 as support.
Ouk... Take your time man.
Learn... Work Hard... Trade Alone
  • #871
  • Mar 27, 2020 5:44am Mar 27, 2020 5:44am
Quoting BiteFX
{quote} Ouk... Take your time man.
I'm trying to get rid of the fear...even my lot size is small, 0.02, I'm still a chicken to enter some trades. But it will get better over time.
If price doesn't try to confirm 1617 as support again, I will wait for 1655.00 to short
Always expect unexpected.
  • #872
  • Mar 27, 2020 5:50am Mar 27, 2020 5:50am
Quoting Skoljkica
{quote} I'm trying to get rid of the fear...even my lot size is small, 0.02, I'm still a chicken to enter some trades. But it will get better over time. If price doesn't try to confirm 1617 as support again, I will wait for 1655.00 to short
That's not small at all if multiplied by at least 100pips, you should be smiling right to the bank.
A retest is better, but the market looks like it is running away... I don't care!
We Stay Alive...
Learn... Work Hard... Trade Alone
  • #873
  • Mar 27, 2020 5:58am Mar 27, 2020 5:58am
One thing is certain. We will win or lose on a trade. Not trying at all will just make fear even greater.
We stay alive.
Always expect unexpected.
  • #874
  • Mar 27, 2020 6:29am Mar 27, 2020 6:29am
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 59 KB

1- double bottom
2- The thick white crossed, the trend line and then pullback
3- double top
4- not sure, about the market direction in the short term
Two ideas:
A) cross the white and brown line at above and try to break 1640 and if this will successful it will visit 1665 - 1670
B) break the violet trend line and it will test bellow of the yellow line near 1605-1600
I guess the market is bull until visit 1700 and more, but maybe
move down to 1605-1600 and after that being bull


I will wait for NY Open, the blue vertical dashed line
Attached Image (click to enlarge)
Click to Enlarge Name: gold-15.png Size: 36 KB
  • #875
  • Mar 27, 2020 6:36am Mar 27, 2020 6:36am
Price is hardly breaking 1623.87 (61.8% WS)
So we could expect one more push down, maybe 1620.00 again, maybe even lower
Retesting 1617.31 (50% WS) would be nice
Attached Image
Always expect unexpected.
  • #876
  • Mar 27, 2020 6:42am Mar 27, 2020 6:42am
Quoting Skoljkica
Price is hardly breaking 1623.87 (61.8% WS) So we could expect one more push down, maybe 1620.00 again, maybe even lower Retesting 1617.31 (50% WS) would be nice {image}
1617.31 reached
Will it act as a support?
Attached Image
Always expect unexpected.
  • #877
  • Mar 27, 2020 6:49am Mar 27, 2020 6:49am
Quoting Skoljkica
{quote} 1617.31 reached Will it act as a support? {image}
And previously mentioned 1620.63 acted as a resistance.
Waiting for my ticket to enter buy.
Always expect unexpected.
  • #878
  • Mar 27, 2020 7:27am Mar 27, 2020 7:27am
Limit activated at 1620... I stay alive... I await market judgement.
Learn... Work Hard... Trade Alone
  • #879
  • Mar 27, 2020 7:31am Mar 27, 2020 7:31am
Chart looks a bullish flag pattern to me...and 1600 was used as a good support yesterday and the day before... That's why I hid my stop loss there.
But, and a big but, market price has the final say.
Learn... Work Hard... Trade Alone
  • #880
  • Mar 27, 2020 7:34am Mar 27, 2020 7:34am
1615.72 on the sight to reenter long
Always expect unexpected.
2 traders viewing now