Any Gold Traders Here?

Discussion in 'Interactive Trading' started by jack, Oct 18, 2013.

  1. jack

    jack Administrator Staff Member

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    I'm curious: Any spot or gold futures traders here?

    I've spent years avoiding gold simply because I disliked the idea of a metal that had more value attributed to it from perception of value than actual utility (something like only 18% taken out of the ground is used industrially.) ..but in the last few weeks I've been taking a hard look at how it trades around dollar and political sensitive events, and so far I like what I see.

    So, any gold traders out there? Scalpers? Swingers?

    What's your general approach?

    So far I've had a little luck scalping on short time frames, based only on seeing recent price moves and sequences repeat, but obviously the risk of getting run over by the herd of stampeding traders during a critical event is rather high... so I'm still refining my trade rules for it..
     
  2. SLT

    SLT Official GDayFX.com Rep

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    I made this chart a couple of weeks back, i'm not sure it will play out, but you never know, so far it has provided a substantial bounce, it could find support, note XPTUSD has bounced to, as i thought it would... i know a lot of people turn there nose up at Elliott Wave counts, and that's fine by me! personally i don't trade with out it. one rule of EW is that, a C wave advance ends in the region of 4, which is 1500 in this case. And if you ask ICT, he would probably see the advance from the low and the recent pullback a possible buy model, bouncing off that sweet spot. I wouldn't be suprised if copper goes up now to
     

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  3. shopster

    shopster Well-Known Member

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    i just heard the neighbors do...

    s
     
  4. SLT

    SLT Official GDayFX.com Rep

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    Copper making a come back, Jack...

    Just a note, ElliottWave international predicted Gold to hit 1200, back when it was at 1800,
    I didnt know much about trading back then, so i went short around the 1800 mark, though got stopped out, left it alone, then price got smashed! Doh!

    Gold could be headed way way down... in time

    Look how well gold has reacted to the POR levels
     

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  5. SLT

    SLT Official GDayFX.com Rep

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  6. SLT

    SLT Official GDayFX.com Rep

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    Do we really want to listen to what banks say?
    EW predicted a top in gold....
    Gold could still head for $700
     

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  7. love-the-pips

    love-the-pips Member

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    Yes... and Yes!
    Swing trading on 4 hour charts. I have never tried trading Gold on a smaller time frame.
    Gold has been one of my biggest earners so far this tax year - very pleased.
    Perhaps I will post some photos shortly.
     
  8. SLT

    SLT Official GDayFX.com Rep

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    Thanks for taking up my Invitation to FxGears Samuel... 8)
     
  9. Tauranga

    Tauranga Well-Known Member

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    Remarkable Gold charts thank you for sharing, very interesting to see when and where the Central Banks were active. I am very interested to see the volume added to these charts, you have sparked my curiosity in following Gold more closely. :)

     
  10. Ramy3

    Ramy3 May the pips be with you!

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    Welcome to the forum love-the-pips. :)
     
  11. love-the-pips

    love-the-pips Member

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    Thanks ;D
     
  12. SLT

    SLT Official GDayFX.com Rep

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    Took a Long on Copper...
     

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  13. SLT

    SLT Official GDayFX.com Rep

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    GOLD
     

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