Jump to content

Potential 'Long' Gold Trade

Recommended Posts

1 hour ago, TrendFollower said:

I see Gold and Silver's price action being on the upside at least until the Brexit situation is more clearer and the US Shutdown matter is closer to resolution.

This could be next week to be honest but also next month!

I think Gold and Silver long plays are good trades during this period. They could still go wrong but with sound risk management (stop losses) and a clear exit plan one should be able to profit until sentiment changes and the trend reverses. We never quite saw a trend reversal on the last correction so this is resuming the rally. However, I have seen such moves entice buyers and then large drop comes so be aware and careful. 

What are your email id sir. 

Share this post


Link to post
On ‎21‎/‎01‎/‎2019 at 19:43, elle said:

Saw this with a suggestion of a potential "Cup and Handle"

Capture gld.PNG

 

Capture ggg.PNG

Share this post


Link to post

@gautamhait,

I am not going to give anyone my personal e-mail address. You are more than welcome to discuss things with me here on the IG Community where it is open and transparent and if I were to give incorrect advice or mention something blatantly wrong then I can be challenged on the IG Community in a professional and respectful way. This will enhance your experience and add value to your IG Community experience.

If you really want to discuss something privately with me then you can send me a message like a lot of other traders and investors do using IG's messaging service. I was just responding to another trader just now using that facility.

I do find it at times difficult to understand your posts as I am not familiar with your writing style and have to make far too many assumptions. 

May I ask why you would like my e-mail address?

Share this post


Link to post
5 hours ago, TrendFollower said:

@gautamhait,

I am not going to give anyone my personal e-mail address. You are more than welcome to discuss things with me here on the IG Community where it is open and transparent and if I were to give incorrect advice or mention something blatantly wrong then I can be challenged on the IG Community in a professional and respectful way. This will enhance your experience and add value to your IG Community experience.

If you really want to discuss something privately with me then you can send me a message like a lot of other traders and investors do using IG's messaging service. I was just responding to another trader just now using that facility.

I do find it at times difficult to understand your posts as I am not familiar with your writing style and have to make far too many assumptions. 

May I ask why you would like my e-mail address?

Buy Gold, Long Term sir ?? How far will it be? Help me sir ??I wanted the email ID for this.

Share this post


Link to post

@gautamhait,

I am afraid I find it extremely difficult to assist you. You do not seem to understand anything I am posting to you and you keep on asking the same questions. 

I will not be giving you my e-mail address. That is final. You can message me like all the other traders on IG's messaging platform. It works very similar to e-mail. 

I do not know how far it will be as I do not have magic powers and nor can I tell the future. I cannot even suggest to you to buy Gold long term as I trade on price action and like I have openly said I do not like Gold at all as an investment. I strongly feel there are better long term investments out there based on my risk tolerance than Gold over the next 10-20 years. 

Let me ask you this @gautamhait, how do you intend to trade or invest in Gold on the long side? Are you going to physically buy Gold, invest in a Gold ETF/ETC, invest in a Gold fund or investment trust, spread bet Gold, CFD Gold, futures market Gold, invest in junior Gold mining companies, etc? 

Also @gautamhait what country are you from? I clearly get the impression you are not from the UK which is the country I am from.

Share this post


Link to post

@gautamhait,

Yes I am long both Gold and Silver. What I am doing is taking my profits and re-entering rather than leave my positions open and pay constant daily charges even if the move in Gold and Silver is against my trades. 

Share this post


Link to post

I am expecting a blue day today in both Gold and Silver following up Friday's move. Also due to the uncertainty in the markets and the Brexit vote tomorrow and I envisage a lot of day traders opening short positions. Also negative news is slowly being trickled for China and its economic performance and profits by the media. I think equities will be going down today and hence feel that both Gold and Silver will have a blue day today.

It is 5:00 am and both Gold and Silver are in positive territory as the Asian markets head towards their close and the EU markets head towards their open. 

Share this post


Link to post

Gold is holding up rather well above the $1300 level and Silver is showing trend weakness but tomorrow could be a different animal altogether with the Brexit vote. 

Share this post


Link to post

Gold and Silver are both continuing to make new higher highs and new higher lows which is an extremely bullish signal in my personal opinion. 

I think once the 200 day moving average curve begins to slope upwards it will attract a lot more buying pressure on the long side. The key is to identify trends to trade and attempt to get in as early as possible.

Disclaimer: I am long both Gold and Silver but have adapted my strategy to day trade them both thus taking profits on a daily basis.

I am trying to avoid going long on those days when they are both clearly trending downwards for the day. I am not shorting them as the longer term bias for the trend is upwards so will happily sit on the sidelines on those 'red' days. Of course there will be days when I make daily losses but the key is to continue trading whilst the longer term trend is upwards as on the balance of probability the odds should be slightly more in my favour of making greater profits than losses during this strong trend.

Share this post


Link to post
On ‎25‎/‎01‎/‎2019 at 20:28, elle said:

 

Capture ggg.PNG

played out

Capture gold.PNG

Share this post


Link to post

@elle,

Some nice predictive modelling there.

Testing assumptions through price action during a trend can really help even if your assumption is wrong. It helps gather valuable information and data. So one must not be worried or scared about being wrong and must embrace losses as they will occur. It is about minimising those losses. 

Share this post


Link to post

It is 5:00 am and for the first time in a long while I think Gold and Silver can move upwards even if equities are rising. 

Silver hit $15.98 and I think it should hit $16.00 at some point today. Gold in my opinion will attempt over the coming days $1320. There is now a strong momentum behind Gold and Silver without extremely large volume. With potentially the volume still to come I think Silver could go as high as $20.00 in the coming future should economic uncertainty remain. 

Share this post


Link to post

Gold and Silver are both holding up rather well and have not lost any of their recent gains yet. There will be a sharp correction (drop) make no mistake but they both seem in bullish mood at the moment to shine!

Share this post


Link to post

Gold and Silver have both flexed their muscles this evening once the US Federal Reserve announced it was not going to raise interest rates.

Both are absolutely flying. It is amazing the impact the US Federal Reserve can have!

I hope many of you are trading both Gold and Silver in terms of 'short term', 'medium term' and 'long term' at this moment in time? It does not matter if you are a day trader. You can day trade both Gold and Silver at the moment. If you are a longer term trader then you can also take advantage on the 'long' side. These opportunities in the likes of Gold and Silver do not come that frequently so one must pull the 'trigger' when such chances arrive.

Share this post


Link to post

Gold and Silver have not yet given some of the recent gains away which bodes well. They both seem to be holding up rather well.

I think the news either positive or negative released by the US today should help Gold and Silver to either continue to move upwards or take a small tumble until the next leg upward resumes. 

Fascinating stuff!

 

Share this post


Link to post

Gold and Silver offering the pullback (necessary medicine in a healthy bull market) to investors and traders alike to enter this journey.

Using 'Oscillators' can assist in establishing an effective entry point.

Trading in Asia will be subdued due to Chinese New Year.

 

 

Share this post


Link to post

Gold and Silver have both started off rather well (5:00 am - UK time). The price action will tell us if this is an upward resumption of the trend. 

Share this post


Link to post
Guest paul
On 30/01/2019 at 19:45, TrendFollower said:

Gold and Silver have both flexed their muscles this evening once the US Federal Reserve announced it was not going to raise interest rates.

Both are absolutely flying. It is amazing the impact the US Federal Reserve can have!

I hope many of you are trading both Gold and Silver in terms of 'short term', 'medium term' and 'long term' at this moment in time? It does not matter if you are a day trader. You can day trade both Gold and Silver at the moment. If you are a longer term trader then you can also take advantage on the 'long' side. These opportunities in the likes of Gold and Silver do not come that frequently so one must pull the 'trigger' when such chances arrive.

Thanks what instrument can we use to trade it medium term? Options or futures?

Share this post


Link to post

Guest Paul,

On IG you can trade Gold via Spread Betting like I do or CFD's.

You can also trade Gold ETF's and I think but not sure possibly Gold ETC's. Then there are Gold mining shares as well. You can use all these for medium term but you must trade what is correct for you. ETF Securities offer ETC's but there is counterparty risk with such products so beware. 

Share this post


Link to post

I think as long as Gold can stay above the psychological $1300 price level then it will be extremely positive and bullish for Gold going forwards. 

US-China delay in trade talks may support Gold's next move upwards.

Share this post


Link to post

One would expect Silver to correct more than Gold as that is the nature of their relationship. What will be interesting is how low Gold and Silver go before it continues its move upwards?

I cannot see (though I could be wrong) any trend reversal occurring in both Gold and Silver until two main things are resolved one way or another. One is Brexit and the other is US-China trade talks. Both are in the air and both have unknown outcomes. This will support Gold and Silver prices from seeing their upward trends reverse in my personal opinion. Let us see if the price behaviour of both supports my opinion or it rejects it. 

Share this post


Link to post

It seems that both Gold and Silver are about to continue their next leg up after that recent very healthy correction. 

If the coming week brings uncertainty existing in the Brexit outcome and no resolutions to the US-China trade talks then I anticipate that both Gold and Silver will have a positive week from a price action perspective. 

 

Share this post


Link to post

At the moment Gold seems to be holding above that $1306 level and Silver that $15.65 level. 

 

Share this post


Link to post

Gold seems poised to make a move on its next leg upwards and seems to be leading the way with Silver trying to play catch up. It seems Silver is following Gold's lead. 

Gold finished around $1321 and Silver $15.74. 

 

Share this post


Link to post

It seems Gold has just broken its previous recent high.

It still seems intent on making new higher lows and higher highs.

Silver will have plenty to catch up on but Gold is certainly taking the lead and playing the tune in this rally rather than Silver. Historically this tends to be the case more often than not. 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      7,259
    • Total Posts
      36,008
    • Total Members
      46,032
    Newest Member
    Stonesfield1
    Joined 21/08/19 07:18
  • Posts

    • Mercury, of course, how you label your wave counts is entirely up to you. Corrective waves (according to EWT) are in the following form: ZigZags, Flats (Regular & Expanded) & Triangles. Complicated corrections are usually a combination. A common one is a double Zig-Zag. Triangles can often found in wave 4 or B but never wave 2. Motive waves are usually pretty simple to spot even for a novice. The problem always occur with corrections in my experience. Knowing the substructure count is critical in that respect. ZigZag (5-3-5), Flat (3-3-5), Triangle (3-3-3-3-3). There is often an alternative count (although one will always be preferred) and only subsequent price action reveals which is correct. There are a few rules, but really not many, and some guidelines. With respect Mercury there is no rule nor guideline that I have ever seen that says "the move does not penetrate above the previous high" for a corrective wave!! For those that don't have the time nor inclination you can subscribe to various services. In the hands of an expert, when combined with Fibonacci ratios, trend lines and sentiment indicators it is, IMHO, a powerful tool. 
    • Actually I thought Corrigan was pretty good and pretty much spot on in his general take on a multitude of economic topics, there was no political agenda and of course it was his view so to get balance -er, find someone else with a different econ view?
    • Good piece on copper here from CME focusing on it's strong links with the Chinese economy and the very low current implied volatility. "Copper closely tracks growth in China, yet copper options prices tend to be closely related to U.S. monetary policy. How will Fed rate cuts impact the metal? " https://www.cmegroup.com/education/featured-reports/coppers-options-paradox.html?utm_source=twitter&utm_medium=social_post&utm_campaign=economic_research&utm_content=20190618_hp
×
×