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TOPIC: Gold where is the best level to go long

Gold where is the best level to go long 14 Jan 2013 16:51 #1

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Diver
hows the magic circle nowadays ;) ;) ;) ;)
Your wave c prediction was pretty close. Well done mate

diver993 wrote:
Remo,

As a short-term trader I was really surprised you picked 1630 -the projeced bottom of wave C - and didn't opt for 1680 -bottom of wave A? Unless, of course wave A was already complete when you posted this subject.
Whatever, just for fun this chart attempts to project waves B and C.....



...... you'll note C is due to complete around Nov 23rd :woohoo: and if this works I'm signing for the Magic Circle :P
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Gold where is the best level to go long 14 Jan 2013 16:47 #2

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Just spotted this old subject and thought id post a current chart of gold ;) ;) ;) ;) ;)



Look how well the 1630 target got hit and how that was a very good area to go long
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Gold where is the best level to go long 11 Nov 2012 09:42 #3

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Remo,

As a short-term trader I was really surprised you picked 1630 -the projeced bottom of wave C - and didn't opt for 1680 -bottom of wave A? Unless, of course wave A was already complete when you posted this subject.
Whatever, just for fun this chart attempts to project waves B and C.....



...... you'll note C is due to complete around Nov 23rd :woohoo: and if this works I'm signing for the Magic Circle :P
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Gold where is the best level to go long 06 Nov 2012 19:09 #4

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https://dl.dropbox.com/u/43650856/Gold%20-%206th%20Nov.htm

That chart thing didnt work very well.

dl.dropbox.com/u/43650856/Gold%20-%206th%20Nov.htm
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Gold where is the best level to go long 06 Nov 2012 19:06 #5

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Thats 50 point move in 2 days maybe more to come and possibly down to 1630. Gold roller-coaster.?

https://dl.dropbox.com/u/43650856/Gold%20-%206th%20Nov.htm
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Gold where is the best level to go long 05 Nov 2012 13:53 #6

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also bear in mind i am a short term trader and not a long term.
Im in and out all the time so my profits are quick.

For long term every thing is different as you maybe planing on getting paid by dividends .
so its really down to what type of trader you are.
remo(day trader)
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Gold where is the best level to go long 05 Nov 2012 13:50 #7

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hi longterm_view

I use the 3 contract rule mainly.
Yes is the answer.
obviously everyone has a different level they will take profits from with the 3 contract rule.I dont take profits after 3 points .Its normally 20 points minimum for me. That will be the first contract closing. then maybe 50 points or a resistance near to it for second contract and the third will be a greedy trade with stops rising.

The place your meant to be taking profits is at the resistance levels.

Once the trade goes in your favour you should be looking to take some profits and move the stop to break even. You have to pay yourself to trade. its not free.

so bottom line is have a target(usually resistance ) . Take profits at the resistance level.

You have to take profits at resistance or a target from a trading range or other tool.

hope that makes sense
dyor
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Gold where is the best level to go long 05 Nov 2012 13:32 #8

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Remo,

I see that that you say "Im going long on gold at 1630 on first attempt basis only . My stop will be below 1620"

I undertand this, but when do you take profits? I can't find anything on the website about targets after you enter the trade. If there is somewhere about targets please could you direct me to it?

Do you use the 3 contract rule? £10, £3.33 each contract.

Contract 1 after 3 points £9.99 profit.
Contract 2 after 10 points 33.33 profit.
Contract 3 stop break even. (free trade)

Many thanks in advance.
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Gold where is the best level to go long 05 Nov 2012 10:22 #9

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Heres the chart for gold.

ive added the fib projection that ftse80 spotted as well.




Click on image to enlarge







Click on image to enlarge

Im going long on gold at 1630 on first attempt basis only . My stop will be below 1620

dyor
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Last Edit: 05 Nov 2012 10:24 by remo.
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Gold where is the best level to go long 05 Nov 2012 00:27 #10

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And the winner is....

Ftse80

Spot on mate....
1630 is the best place possible....

There are other levels above like broad rock mentioned as well that are good levels .

But the question was for the best level to go long.
The main trend line is at 1630 and breakout point and 61.8 fibs. This level has multiple supports so should bounce on first attempt.


Broad rock....your stop at 1630 is bang on major support so this should be lower than 1630. You should not put stops on the support level but below. In this case below 1620 . The 1630 could get very volatile hence the wider stops.

Obviously the 1630 is the level I consider to be the best level but others may have a different opinion .

Thanks to the guys that took part . It's the best way to learn.

Dyor
Remo

Ps..I'll put a chart out tomorrow .
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Gold where is the best level to go long 04 Nov 2012 21:20 #11

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Another reason to go long at about 1630 would be fib extension that 100% is at 1629.75

Ftse80
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Gold where is the best level to go long 04 Nov 2012 21:16 #12

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is best to buy at the place where it will bounce form without going to much against us :P :evil:
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Gold where is the best level to go long 04 Nov 2012 21:13 #13

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screencast.com/t/EtmRvXMHg

1641 the breakout point
1646 last support

1646 as long entry

RMc
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Gold where is the best level to go long 02 Nov 2012 23:01 #14

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1670

It is on horizontal support + 61.8% fib of previous wave up + 100 sma support + 200 sma just below.

Stop loss below 1630

dl.dropbox.com/u/43650856/Gold%202nd%20Nov.htm
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Gold where is the best level to go long 02 Nov 2012 22:06 #15

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something went wrong with image

dl.dropbox.com/u/35299169/2012-11-02_2200_gold.png


2012-11-02_2200_gold.png
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Gold where is the best level to go long 02 Nov 2012 22:05 #16

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Level to buy for me would be at 1630
-61.8% fib
-strong support
-near to trendline

stop would be few pips below green trendline
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Gold where is the best level to go long 02 Nov 2012 21:29 #17

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Where would you say is the best level to go long on Gold and why.
Im looking for accuracy ....
In my opinion a great opportunity is presenting itself

This is a Test.

Please state your levels. Im only looking for 1 number..

Ill give the answer in a few days.
My order is already placed...lol
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