Gold - Buy/Sell points

24 juin 2020

Now that Gold is breaking out, all focus goes to the 4hr chart.

I'm trading E-micro Gold futures (/MGC), 2 contracts at a time.
Strategy is to hold 1/2 position all the way up to $1,880 target.
Day/Swing trade 1/2 position on the way up.

I'll update my markers where I buy and sell moving forward.
Links below show where I started building position.

Stay Black.

1 juil. 2020

Note

Still holding 1 contract for the medium term target of $1,880. Missed my buy order for a second contract by about $3 !! If that order had filled the logical place to sell is $1,800.

Looking for another dip to $1,730-ish or lower to try to pick up that 2nd contract and get another chance to sell at $1,800.

21 juil. 2020

Note

Gold prices are still trucking along.

I cancelled my sell limit order and will decide when to sell once we get to $1,886 depending on the price action. Sometimes when Gold grinds up to these levels it can cause a small short squeeze.

22 juil. 2020

Note

Soon as Congress announces the next stimulus package I'll look to sell to those who are chasing this rally.

23 juil. 2020

Trade fermée manuellement

Sold -1 @ $1,878.10
Profit: $1,337.50 (plus about $200 from the other contract traded earlier)

Price got to my $1,886 target a bit earlier than I expected and looks like it could pull back. I'll look to buy again on a dip.

24 juil. 2020

Transaction en cours

Price did not pull back and my buy limit order got filled on the break above $1,900 this morning. The all time high is only $23.70 away so my theory is there could be an epic short squeeze to new all time highs.

Note: Bought the October(V) contract in case I want to hold longer term. It's price is set $10 above the front month contract.

+1 @ $1,914.40