User
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The following suggestions
Take profits get back in on kickback
Reduce stake to half so half profits are in the bag
If you draw channel lines on the copper trend then your stop loss could be at 120ish but then you'd lose 400 points.
Set tighter stop losses to maximise gains.
Personally I feel its going to push higher this week, I might be wrong, so setting tighter stops or cutting your stake to half seems sensible.
Gold is in a long term Bull market trend, however as we've been noticing recently the moves occurring in Gold, up or down are related to the moves in the greenback.
On a personal professional opinion, buy in the range between 390 and 405.
Gold will currently range trade within 390 to 430 on a longer note gold will head towards 480-500 undoubtedly.
Note: Unless the dollar has a complete U-turn, but as Lady Thatcher once said ‘U-turn if you want to I’m not for turning’
I’ll think you’ll get my drift.
Hope that helps...
Take profits get back in on kickback Reduce stake to half so half profits are in the bag If you draw channel lines on the copper trend then your stop loss could be at 120ish but then you'd lose 400 points. Set tighter stop losses to maximise gains.Personally I feel its going to push higher this week, I might be wrong, so setting tighter stops or cutting your stake to half seems sensible.
Gold is in a long term Bull market trend, however as we've been noticing recently the moves occurring in Gold, up or down are related to the moves in the greenback.
On a personal professional opinion, buy in the range between 390 and 405.
Gold will currently range trade within 390 to 430 on a longer note gold will head towards 480-500 undoubtedly.
Note: Unless the dollar has a complete U-turn, but as Lady Thatcher once said ‘U-turn if you want to I’m not for turning’
I’ll think you’ll get my drift.
Hope that helps...
Sorry - you're correct - I only ever look at the contracts that the bookies allow me to trade - in this case March High grade.
It's got to retrace from there hasn't it? - my favourite tarding author is Dr Alex Elder - he would describe this as a kangaroo tail from which the price bounces off in the opposite direction as a long term trend exhausts itself....trouble is he also advises never to trade against the trade and it looks as much like a spike y'day morning!!
If not selling this contract surely all longs have now covered?
Appreciate any comments - tks
It's got to retrace from there hasn't it? - my favourite tarding author is Dr Alex Elder - he would describe this as a kangaroo tail from which the price bounces off in the opposite direction as a long term trend exhausts itself....trouble is he also advises never to trade against the trade and it looks as much like a spike y'day morning!!
If not selling this contract surely all longs have now covered?
Appreciate any comments - tks
I would be very nervous shorting base metals at the moment until there is a clear chart signal .. there is alot of powerful buying fuelled by a severe shortage in the spot markets. Whilst I agree it does look quite streched on the chart there is absolutely no sign of it slowing . If you did short here it would be very difficult to find a sensible stop.
Just my thoughts
Peter
Ps .. I was long but took my profits way too early (120 ish !!)
Just my thoughts
Peter
Ps .. I was long but took my profits way too early (120 ish !!)
A close at the high is strong in itself. Where would you put your stop, and what is your objective?
ps. I'm looking at this
http://www.futuresource.com/charts/charts.jsp?s=HGH04&o=&a=D&z=610x300&d=medium&b=bar&st=
ps. I'm looking at this
http://www.futuresource.com/charts/charts.jsp?s=HGH04&o=&a=D&z=610x300&d=medium&b=bar&st=
Oatman, User - you're right, you're right.. . . . I'm staying neutral and out of the market - that said I don't think I'd buy a pullback either - that trend looks old to me (coming unstuck from its trendlines) and volatility is at high in recent months - all signs that a reversal could be on the cards but not signals to trade off. .
(all those ''shoulds'' and ''mights'' are making me sound like an article in the Sunday Times!!)
Thanks for your comments - I'm standing aside.
(all those ''shoulds'' and ''mights'' are making me sound like an article in the Sunday Times!!)
Thanks for your comments - I'm standing aside.
So what is the leading indicator?
Is it copper or the stocks? :!:
PD and Copper made highs on March 1st. Since PD has made new lower lows and highs, but copper seems to be stalling in triangle or some form of 4th wave correction. Is the correction over and HG is ready for next leg up? Or should we expect a more pronounced correction?
We might know as early as tomorrow!!
Have a look at the charts of Copper stocks on:
http://www.trade2win.co.uk/boards/showthread.php?s=&postid=90917#post90917
Is it copper or the stocks? :!:
PD and Copper made highs on March 1st. Since PD has made new lower lows and highs, but copper seems to be stalling in triangle or some form of 4th wave correction. Is the correction over and HG is ready for next leg up? Or should we expect a more pronounced correction?
We might know as early as tomorrow!!
Have a look at the charts of Copper stocks on:
http://www.trade2win.co.uk/boards/showthread.php?s=&postid=90917#post90917
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ravenglass
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I know of someone who has made a fortune in copper over the last couple of years.
minx
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minx said:
HGU appears to be at critical support. As long as Fridays' lows hold, it is still bullish. Technically, it seems that prices bounced off GANN support lines and remain above support line from June lows.
In summary, if I had to be long or short, I would be long! But to quote Livermore: there are times to go long, times to go short and time to go fishing. As for Copper the former has my preference.
