GCG2016 Commodities Futures Chart

GOLD FUTURES

 

News

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: FLAT Gold
28 0 0
GCG2016, D
FLAT Gold

FLAT...we covered our position on this AM sell off. Crude popped over rumors which drug the indexes with it. Goldie rolled over and puked after making a new high. We are on the sidelines waiting for another opportunity. Stay tuned.

OffTheFloorTrader OffTheFloorTrader GCG2016, D, Long ,
GCG2016: Aunt Janet to the rescue
26 0 0
GCG2016, D Long
Aunt Janet to the rescue

Aunt Janet to the rescue. The FOMC didn't raise interest rates which sent the indexes tumbling and popped Goldie. We are getting close to our final target (200Day EMA). If we see any weakness we will cover the trade We also pulled the stop WAAAAYY up to lock in profits.

OffTheFloorTrader OffTheFloorTrader GCG2016, D, Long ,
GCG2016: Goldie...number #2
14 0 0
GCG2016, D Long
Goldie...number #2

UPDATE: We took our 2nd target at 1122. Stops are pulled just under our entry. Now we wait for Aunt Janet for some love. LESSON: Observe how we managed this trade in order to give ourselves an opportunity for an FOMC pop. If you missed the trade be patient and wait until after the FOMC news to find new trades.

OffTheFloorTrader OffTheFloorTrader GCG2016, D, Long ,
GCG2016: Third Times a Charm
26 0 1
GCG2016, D Long
Third Times a Charm

Third times a charm. We waited for the second resistance area to get long...again. We have been playing the long side for a while and we think Goldie has eyes on the 200 day EMA. For now we have our 1st target and hopefully get number 2 before FOMC. Aunt Janet surely can't pull a Mario and knock us out of our position? ;)

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: Goldie floating higher?
18 0 0
GCG2016, D
Goldie floating higher?

Mario spoiled the party and took us out of our trade Thursday. When this happens we will sit on the sidelines for a day to see what happens next. Friday was an inside day for Goldie. We expect a move outside the range on Monday. We still like the upside and will continue to look for long triggers until we are proven wrong. There are two areas to look for ...

OffTheFloorTrader OffTheFloorTrader GCG2016, D, Long ,
GCG2016: Is Goldie sleeping with Draghi?
16 0 0
GCG2016, D Long
Is Goldie sleeping with Draghi?

Goldie broke back above our long area today and we got long on a quick trigger. We took some quick profits and are now holding a small position going into the ECB announcement tomorrow. The timing wasn't good on this trade because of the news so we will be patient and see what kind of party Draghi will throw tomorrow.

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: Goldie is trying
18 0 0
GCG2016, D
Goldie is trying

Goldie is trying to back above the 1095 area. If we see price above that area we will look for a trigger to get long. Be patient with her...it may take her a few days to cross that hurdle.

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: She has a mind of her own.
28 0 1
GCG2016, D
She has a mind of her own.

Goldie is always keeping people in on their toes. We were expecting some consolidation on the breakout and then another leg higher, but Goldie has other ideas. She is now back to our original entry. If price closes above 1095 we will look for triggers long. NO TRIGGER, NO TRADE!

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: Goldie setting up?
41 0 0
GCG2016, D
Goldie setting up?

OK...we are flat Gold and want to re-enter for a run to the 1140-5 area. We would like to see a pullback to the 1089 area but in strong trending gold markets deep pullbacks usually don't happen. We believe Goldie with consolidate in this area for a day or two and start another leg higher. We will be looking long for triggers after the first 60 minutes of the ...

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: Wise Words
31 0 2
GCG2016, D
Wise Words

In hindsight we covered our trade a little early. However, a mentor told me if you pick tops or bottoms you will go broke...if a move is for real there will be plenty of time to make money. wise words!

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: Goldie delivered the trifecta.
91 7 2
GCG2016, D
Goldie delivered the trifecta.

Second Target was hit intraday today and we covered our final leg on a globex pop. This trade work out very nicely with very little pullback. This is the exception and not the rule. Most moves have some back and fill before hitting 2nd and 3rd targets. From the looks of it, 2016 could be a very good year for traders. If you missed this trade DO NOT CHASE! ...

OffTheFloorTrader OffTheFloorTrader GCG2016, D, Long ,
GCG2016: Goldie Trade Update
21 0 0
GCG2016, D Long
Goldie Trade Update

With a break of the previous days high and as it inches to our second target we are pulling our stop up closer to the entry. Manage your trade!

OffTheFloorTrader OffTheFloorTrader GCG2016, D, Long ,
GCG2016: Goldie on the run
26 0 0
GCG2016, D Long
Goldie on the run

We are long Goldie and got our break out. We took a little profit and on the first break. We have pulled stops up a bit and are now looking for two more targets.

OffTheFloorTrader OffTheFloorTrader GCG2016, D,
GCG2016: She's angry....let's trade her!
47 0 1
GCG2016, D
She's angry....let's trade her!

Goldie is being Goldie. She is hurting traders with indecision. She has now formed a triangle and we are setting up a nice signal on a daily time frame. The pat of least resistance has been down and we have been using th $1,000 level as a magnet. We still like $1,000 but if she decides to hurt more people she will break to the upside and we will target the ...

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