Gold Trading Thread

[Stuart14]

Thought i'd start this for anyone trading Gold. Any idea's, theories etc would be great, especially now whilst Gold is on the move.

Currently looks to have bounced off old Support and is on its way to new resistence. Anyone seeing anything different?

 

[Trading2k]

With the currnet drops I'm looking at it as another long option. Down $21 today at $793

 

[Stuart14]

Why fight the trend?

 

[tomorton]

Trends always win that one.

I am tempted sometimges to go long against a downtrend - last week I had a buy order on gold in case the market over-reacted to South Ossetia and dumped cash into gold on Monday - in the end nothing happened and the order was never hit.

If it had been, I would have been looking to hold only until the New York close anyway. One up day doesn't reverse a trend like this one.

 

[Stuart14]

True. I went short DOW 2 days ago, closed yesterday. The current trend is up (God knows why) but I thought i'd make some on the retrace. Took 100pips in the end, but could have had a lot more if i'd been better prepared on my exit.

 

[tomorton]

The recent shift to uptrend is odd: has anyone reasons rather than theories why the indices are going up?