vlad.adrian
Long

Gold - Daily corrective double bottom

COMEX:GC1!   GOLD FUTURES
419 16 7
My long term view on gold             is bullish , check ou the chart at the linked ideas.

Finding a good place to go long is key, and I believe today it is a very good spot to do just that. Corrective double bottom with bullish divergences on all three oscillators, and a false breakout below the local support.

I allready made a partial entry last night, but I want to see some momentum to enter with a full position.

Stop under yesterday's candle. First resistance at 1330$, and then at 1400$.

Good luck!

Related Ideas

azn_trader
2 years ago
My very short term for gold is bullish. My long term for gold is bearish but if the FED stop tapering and continue to do more QE with the larger scale then my long term is bullish. China is in credit crisis eventually will hit the maket soon. During 2008 credit crisis, all markets are sold. Gold & silver were down 50%. China is the biggest buyer of gold but when their economy is in trouble with credit crisis. China is the second largest economy in the world.With the shadow banking system $10 trillion dollar with the "T". The goverment can't rescue because they don't know where those loans are. As the trader, i have wait for the Fed reaction when the crisis hit, if the fed starts to print to rescue the crisis, gold may go up. If they don't gold & silver could be in trouble with other asset classes.
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vlad.adrian PRO azn_trader
2 years ago
Well, I don't follow fundamentals, my opinion is strictly technical. I can't agree or disagree with what you said cause I do not have the economic knowledge to do so.
About 2008, Gold was down only 30%, not 50%.
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Sharky8899. azn_trader
2 years ago
How do this work, gold miners are already down 50-90% i guess the gold price will be the hardest hit?
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vlad.adrian PRO Sharky8899.
2 years ago
I dont understand what you mean, sorry
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Sharky8899. vlad.adrian
2 years ago
Oh ok, Well the gold price and the gold stocks are 2 diffrent things, so gold is down 30-40% from the all tiem high, but gold stocks(the companys that mine the gold) they are down 50% - 90% already.So what do you guys think, if a remake of 2008 was to happen in some way, do you belive rather then getting crushed when they are already down, they will be bought?

If you look at junior miners from 2008 - 2011 many of them gave over 1000% return on investment.
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vlad.adrian PRO Sharky8899.
2 years ago
Now I get it. If the price of gold goes up, the gold stocks should go up with it, that's my opinion. I will look for the strongest gold stocks, cause I want to build a position there too. If you have any sugestions, please post them here, I'm sure many viewers will appreciate it.
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Sharky8899. vlad.adrian
2 years ago
Oh there is alot! but i would highly reccomend http://www.goldsilverdata.com/, they have a huge database, covering eveything you need to know, they also have calculation of future price at diffrent gold prices, i am not doing any marketing for them whatsover, its a resource thats helped me alot, also you can try trail for free for one month and get alot of insight, i personally belive, that buying strong companys like say, continental gold, at this prices will problly duble or tripple your money at 2000gold, but the real reurn will be companys that dont have cash flow now or negative cashflow, but at 2000- 2500 gold will have huge proffits, and many companys looks like 20-50 baggers if gold went up to 2500.
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Sharky8899. Sharky8899.
2 years ago
As for stocks i have( please do your own reaserch before buyinh what so ever) I like Dalradian Resources Inc, Silvercorp Metals Inc, TrueGold Mining Inc, Tanzanian Royalty, but i have about 14 others i have bought at dirt cheap prices, but there are so many companys! like this, and they are worth basicly nothing.
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vlad.adrian PRO Sharky8899.
2 years ago
Thank you for sharing! I will look over them technically and I will be posting any charts if I spot anything interesting
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Sharky8899. vlad.adrian
2 years ago
Please do, and notify me, i am verry new to technicals, and i bought my stocks based on:
-1000gold are the companys going to make money?
-Some i bought based on negative cash flow now but what if gold went to 2000?
-I looked at shares diluted
-What they have in the bank, i made one exeption on debt with astur gold corp(since every 1 belives they wont be permitted, but its more likely they will... verry risky stock)
-I looked at how much they have in the ground proven reserves, and also of there is more room for growth
-Mangment is key and shared owned by the managment is posetive.

This is what i looked for with the fact that i belive gold will in 2-3 years time make 2k-2.5k in price.

I think the gold stocks as reflection of the gold price, and ofc good news like they gotten more gold in ground or they cleard permitting etc, always spikes the stock price.
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OldGoat
2 years ago
I agree with your basic premise that GC will trend up from 1180. However, I am doubtful that we have hit the bottom of the down leg from mid-March. For quick day trades, GC may go up or may go down. For something longer I suspect we are likely to see 1260 before we see 1360. I don't see GC making it up to 1320 before continuing the down leg. I don't have any special insight, just my guesses based on the technicals I follow and trying to correlate with my observations of geopolitical and economic events.

Thanks for sharing your ideas., your chart work is terrific. All the best to you in your trading.
Reply
vlad.adrian PRO OldGoat
2 years ago
Let me start by thanking you for your kind words, I really like when my work is appreciated.
I actually trust this trade a lot, it's a very clear picture. I've been waiting for it for quite a long time, everyday I have been checking the price of gold, and it is not an instrument that I follow closely, like the US indices. I have not fully put up a long position, as there is no momentum. I have only one contract, risking less than 1% of my equity, so I say bring on the 1260 level, I will still want to go long below it. Thank you again!
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ShahrozLodhi vlad.adrian
2 years ago
heloo sir
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vlad.adrian PRO ShahrozLodhi
2 years ago
hello
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ShahrozLodhi vlad.adrian
2 years ago
sir what is the name of the stratgies that you are using
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vlad.adrian PRO ShahrozLodhi
2 years ago
It doesn't have a name, it is custom. It is derived from Triple screen trading system by Dr. Elder. Check the newer charts I posted, I added new indicators
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