Still watching for a breakout. If GC breaks down we will pass on the trade. Stay tuned.
OK...GC has given us a nice winner and true to our plan we will cover everything except one contract! (see past posts) This trade is a big winner for us and we would like to keep riding the move but with the ECB announcement tomorrow it's a flip of the coin. We could hedge with options but we choose to cover and leave one 'risk' contract to see if the...
UPDATE: We are moving our stops up a little further. This has been a great run on the breakout and we will want to make sure we lock in more. Don't chase up here. Goldie runs fast. If you missed the trade be patient for pullbacks.
First target is hit (Thanks Swiss National Bank). We will move stops up to just under our entry. The trade is at no risk and now we will sit on our hands and see how far she can go, As we mentioned this is a weekly setup so we expect a good size move. However, what we saw from the Swiss last night can be a game changer. USE STOPS AND DON'T BE A HERO. You...
We are long $GC from 1230. We will keep stops tight at 1220. Typically we will look for an extended first target but with Mario Drahgi speaking next week we want to get some off the table early. Watch the video below for how this setup. youtu.be
A quick update. GC is getting ripe and we expect some movement today (with NFP numbers) or early next week. This is a weekly chart signal so we will expect a nice move once it triggers. REMEMBER: NO TRIGGER, NO TRADE.
Still coiling. This is on our watch list. We will wait until it breaks and trade the first pause/pullback.
GC is now coiling and getting ready for it's next move. Even though the markets will have low volumes over the next two weeks GC could makes it move while nobody is watching. We will wait until it breaks and trade the first pause/pullback. Keep it on your watch list.
Lets face it the manipulated paper market is causing physical gold and silver to tank. Yet there are shortages of silver and gold and all the while China, Russia and smart people are buying physical. Why the US is BK and at some point this will fly, but the wealthy know that if they force price down they get the uneducated to sell into it and they acquire on the cheap...