I have intraday low at 1605.92. My system's 1 hr chart gave a sell @
1609.30 Could bounce here.
1609.30 Could bounce here.
GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies
Gold futures & XAU 77 replies
Daytrade - XAU/USD & XAG/USD 14 replies
XAU/JPY & XAG/JPY 13 replies
Successful XAU/USD traders 7 replies
DislikedTime I use tight stops is when I am scalping for like a 3 to 10 USD move and I think there is the possibility of a breakout in the opposite direction.
Gold averages about 30 bucks Hi to Lo a day these days,
using tight stops even while day trading is a sure fire way to lose.
And "so called hedging" is a way to lose even more.
[b]I have had in depth discussions with Mt4 brokers about what happens when you
"hedge" or take an opposing position in the same pair.
The response was so circled and twisted my head was spinning by the amount...Ignored
DislikedWhy are you back and forth with such tight stops? price is already back up to 1613.8 and you would have made money instead of losing both ways. been there, done that!! proper MM and large enough stops will go a long way. The only time I use tight stops if there is a breakout and it comes back to test. tight stops are a gamble in this market. just my 2 cents.Ignored
DislikedIts just how my strategy works. I dont short gold I only buy and if it drops another $100 or even $150 it gives me an even cheaper price to buy again.
What goes down must come up sooner or laterIgnored
DislikedUnless you have a big account that can absorb downward gyrations and a willingness to pay swaps for a long haul, be careful.Ignored
DislikedWheels, what is your plan for releasing your hedge, what event are you waiting for?Ignored
DislikedI have a very flexible plan, ...continue to watch S/R levels and economic developments, rather than leaving my account and forgetting about the market while I pursue other projects.Ignored
DislikedGold is still holding on in this holiday season, gold is a bit more confident than it should beIgnored
DislikedIs it really more confident? I am not making any calls here but just observations that there a lot of reasons why it should be confident. Hit the long standing trendline at 1560 and bounced up, 1600 is approx 75% fib pullback of the last move up from 1592 to 1641, markets still in turmoil, has recently been correlated with stocks and they are up, central bank buying, ECB lending 500 Bln out of thin air, low interest rates all over, etc... I know there are a lot of doomsayers but there is a lot of support.Ignored
DislikedIts just how my strategy works. I dont short gold I only buy and if it drops another $100 or even $150 it gives me an even cheaper price to buy again.
What goes down must come up sooner or laterIgnored
DislikedIts just how my strategy works.....
What goes down must come up sooner or laterIgnored
DislikedI feel about as bullish about gold as I do the Euro. For the last 4 weeks they have been trading together as shown by the two 4 hours charts below.Ignored