Gold Trading: Thursday 12 Sept: Ideas, Trades!

Updated

https://www.tradingview.com/x/ahHLF6rb/

Hello Traders,

I see that the Gold-price is currently getting bid up at the moment. Sometimes I wonder when I see this if its to protect the price a bit before it falls off a cliff.

But we will see what impact the USDX tries to make. Yesterday we did not see it rally as much, yet the Vix Index did rally.

That only aided the Short trade idea that I shared with you. Then some of us got Long in Gold as the Vix index cooled-down and buying demand was seen coming back in.

The Gold-price for over 24 hours can be seen in the intraday charts to be moving in a triangle & room is running out and getting smaller, which for mind will probably cause some volatility.

Speaking of volatility, the main economic news for the USA today Thursday are PPI & continuous jobless claims.

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I see that the Daily Stochastic for the USDX is crossing down on 80 today. For mind that would contain it from rallying, tomorrow is when the fireworks will be when the Daily and weekly stochastics will cross up at the same time.'
Economic data was mixed. The jobs report was good for long gold.

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Buy LONG in golden Zone in chart. Stop loss red line at bottom

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Long Gold:
Guys as I said the USDX should be contained due to the daily stochastic at a level suppressing its movement upwards,
VIX INDEX is the enemy. Selling will enter into the Gold market if it spikes especially more than 10% on the day.
Good luck.

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When price is rising rapidly I like to watch a 1minute chart because I can see when a TOPPING FORMATION APPEARS WITH 1 MINUTE CANDLES, THAT IS WHEN YOU LOCK IN PARTIAL PROFITS, PARTIALS, always good to do it that way to beat a SUDDEN REVERSAL IN PRICE

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The way I feel the Gold price is like this. If price is gently and slowly retracing then that tells me its just a fib retracemet and price is gonna go back up soon.
Sudden, fast moves down are usually very strong reversal signals & you have to be very quick to book profits or you will get taken down very fast

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2528 would be a good level for your STOP LOSS. You make profit then no matter what and don't. have to be glued to a screen like me.

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Wait on moving your stop until we get higher out of this zone

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For other traders Short price just retraced to the 50 fib level

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A double bottom formed price got support and going up now

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Fib retracement for another buy order soon. I did well short but very nerve wracking!

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Buy 2544 to 2546
stop loss 2541.45

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cancel those orders i dont think there is a fib retracement

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Top of pattern. Cancel buy orders in case of fast reversal

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Short at top of wave. Stop 2552.50
Risky

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bulls taking it higher in rising wedge for now

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I am doing another risky short. at market price. 2555 stop loss

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Short trade. Gold price too high

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I am hoping that is an mtop forming and moving down soon. I am short.

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Do you know what is happening tomorrow I am about 98% sure.
The daily and weekly stochastics on the usdx are crossing up through 20 zone simultaneously, this will propel the usdx through 101.85 and into breakout territory,

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Some buying down here in these order blocks and where I got out of the short trade

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It's new territory this price for Gold. I don't think anyone knows where next. Test the highs again I think

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I have had enough of gold today. Tomorrow will be interesting I think. If I find a currency pair or some crypto I will let you know. Thanks for being with me again.
Chris

Easy_Explosive_Trading

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