Gold calls.Long term -medium term and intraday calls in gold is here !.

[sujithsstorock]

this is a irregular wave 4 down. i hate selling in wave 4, and as its irregular , it give sideways movement so as to hit stoploss,but surely sliding down. this fall is a good opprtunity to go long at bottom.

 

[Mr.J-Arthur]

What are these "waves" you speak of? Elliot waves? Explain please

I just scalped a little profit, and now stopped out. Darn choppy.
We popped, but now we drop I guess? How far? how hard?

 

[sujithsstorock]

edit 1

this is a irregular wave 4 down. i hate selling in wave 4, and as its irregular , it give sideways movement so as to hit stoploss,but surely sliding down. this fall is a good opprtunity to go long at bottom.


yes am talking about elliote wave. see i knew its bullish.current price 964.5 $...cheers to technical trading i bought at 954 $ with stop of 952.8 $, i caught the tail of rhino ...yahooooooo :cheesy:

 

[Mr.J-Arthur]

I'm not so sure we're going down.

 

[sujithsstorock]

yes arthur... i already gave a long term hold call of buy at 947 $ . that should be the bottom for this wave 4 , according to fibonacci retracement....market looking to pull more buyers and eventually crash tommorow or day after tomorrow (crude inventory might just help for the fall)

 

[Mr.J-Arthur]

Wow. Looks like I'm done for the day, unless something happens. I just took a small drawdown (-52$) because I was late to that run-up. I need to wait for another good opportunity. I was fearful to buy in the 950's...shouldn't have been so scared, shoulda seen the big "W" chart.

 

[CrashGuard]

rock long term chance gone or prices will go down again?

 

[sujithsstorock]

I am optimistic for a fall. If and when price falls,then we will buy.

 

[Mr.J-Arthur]

kitco.com for more info on gold.
I look at multiple forums for opinions on the direction.
I keep missing these nice up swings. I'm just going to bet it's going up tomorrow.

 

[Mr.J-Arthur]

S.Rock-any short term Sell calls? If we see a drop before tomorrow's open in New York, why not try a short? 947 is a big drop.

I'll issue a call. Sell 973-976 Stop loss @974 or 977 if selling higher.
Take profit @970-955


Edit: I just sold 1 mini @972.7 so we'll see. My stop is at 974, so im selling slightly lower than my call.

 

[sujithsstorock]

I am waiting for 970 to be broken. If it takes a support there, it might just show 980 $ in london session. Then at night profit booking might crash the bullions.Still some bullish signs seen.Am cautious till us opening for shorting.

 

[sujithsstorock]

S.Rock-any short term Sell calls? If we see a drop before tomorrow's open in New York, why not try a short? 947 is a big drop.

.

if you want then you can short for target 956-950-948 $ with stoploss of 986 $. But it holds 40 % chance at this state. And i might re-check the medium term buy once again.I think i might have to take it some where around 935 $ .

But shorting gold is somewhat itchy and awkward to me.

 

[Mr.J-Arthur]

That's understandable.
970 is holding alright. I have hopes that it will break. If not, I might take a small loss or break even.

I just covered my scalp at 972.10. I had over $1 in profit but I closed with a tiny .60
I might short again if it cracks 970, if I'm still awake.

Edit:986 would be a huge stop loss for me.

How do you figure a % chance of holding? Using Fibs?

 

[sujithsstorock]

Its mind calculation . Us dollar gaining strength.Gold but holding up.

 

[Mr.J-Arthur]

Hehe, thankfully i took my itty bitty profit! I should have entered a long. I might still.

Gold just busted out of a tight trend. Probably not enough momentum though.

 

[Mr.J-Arthur]

Entered Long @972.50
Target 975-980 ( I'm set at 975, but that's because I won't be around to watch )
Stop @971.40

This is an upward channel. It confirms the bullish trait. 30 min SMA moving up. 5 min pointing up, 10 inching closer towards crossing the 18 sma. I'm feeling confident. now to fight the urge to take profit. I'll try to sleep on this one, and see if either profit order is filler or stop.

 

[sujithsstorock]

I would suggest to wait.

 

[CrashGuard]

Entered Long @972.50
Target 975-980 ( I'm set at 975, but that's because I won't be around to watch )
Stop @971.40

This is an upward channel. It confirms the bullish trait. 30 min SMA moving up. 5 min pointing up, 10 inching closer towards crossing the 18 sma. I'm feeling confident. now to fight the urge to take profit. I'll try to sleep on this one, and see if either profit order is filler or stop.

Nice move. I missed the opportunity

 

[sujithsstorock]

I am waiting for 970 to be broken. If it takes a support there, it might just show 980 $ in london session. Then at night profit booking might crash the bullions.Still some bullish signs seen.Am cautious till us opening for shorting.

remember my words he he he. 980 in london session done.

 

[sujithsstorock]

Gold LONG TERM call


buy gold

1) at 918 $

2)at 910 $

3)at 898 $.

Stoploss for all buy is

887 $.

Targets 946-955-970-983-990-1000-1016-1033-1075 $.

Expected time frame is 4-7 weeks.


Do with your own logic.

3rd target hit. And near 4th now. Current price 982 $.Enjoy profit am still holding two mini's