Quick one: LONG Gold. Long

Gold FuturesCOMEX

Description

⋅ Jul 2, 2018 5:28 PM

Major support zone.
AB=CD pattern.
Volume profile.

This is highly speculative, so bear in mind and control your exposure accordingly.
Targets on chart.

Good luck.

Trade active

⋅ Jul 2, 2018 5:29 PM

Long at 1240.41

Comment

⋅ Jul 4, 2018 2:00 AM

Looking great. Excellent timing. Stop moved to BE.
Enjoy the free trade.

Cheers

Comment

⋅ Jul 6, 2018 6:28 AM

Still open, nothing to worry for now. Let's see how the COT report shows today EOB.

Comment

⋅ Jul 9, 2018 11:17 PM

COT report shown flat action from MM... so, it is safe to have this one still open with stop at BE.

Good luck.

Trade closed: stop reached

⋅ Jul 11, 2018 11:25 PM

Stopped out at BE...
Will consider reentering, but not now. I'll wait for COT report again.

Comments

UnknownUnicorn2643179

⋅ Jul 2, 2018 5:34 PM

lol I just opened a sell knew that I was wrong. Thanks for the post

cacus

⋅ Jul 4, 2018 2:04 AM

@Mr1TommyGun, glad to help

NEWRO

⋅ Jul 4, 2018 2:40 AM

Great call. Impressive accuracy sir. May I ask what your Targets are for this move?

cacus

⋅ Jul 4, 2018 11:42 AM

@NEWRO, thanks! i'd suggest 1273/4 for first target, 1288 for a second. As short term. For long term, i'd monitor closely what the future market is doing and the level of contracts traded for swap dealers and money managers to get my confortable position for that time frame (a year or more)

NEWRO

⋅ Jul 5, 2018 4:26 PM

@cacus, would be very exciting to see 1370 breached with conviction, think that would be a very strong signal for anyone to ignore. But that might take a while. Downside targets look exciting / terrifying depending on your position.

cacus

⋅ Jul 5, 2018 5:37 PM

@NEWRO, yes, 1246 could be a small swing now, way above my stops so i'll keep my long. No need to reenter. I need to see what COT report is pointing towards tomorrow.