Good day to everyone. Considering the speed in which the price of Gold has been rising, I would expect a volatile but range bound day. On the down side there a couple of levels to watch on 1320 and 1305, which need to hold on order to ensure that the uptrend resumes from those levels. On the upside 1352 and 1357 and key resistances that we need to keep and eye on. Entering long positions at this time is risky as the market has not taken a pause to breath and then volatility may be an issue, also we have ECB rate decision tomorrow and the prospect of a geopolitical event over the weekend. If you are long and already and have a profit, it would be better to book your profit and buy dips, if you are in a short position it is time to find a suitable entry level to either close losing short positions or take any profit you may have on shorts below 1345. Friday is a light day on news so if no key supports are broken tomorrow then Friday will be a very bullish day with the prospect of a new gap up on the weekend. Remember this is an intraday forecast so daily profits, if any, must be book as per everyone convenience.
Wednesday, September 6, 2017
27 comments:
Disclaimer: This site is not intended to provide professional advice nor to lead users to either copy or follow the trades herein posted, it is essentially conceived to share thoughts and ideas for non-professional traders and become a non-official knowledge base for individuals interested in testing and improving their own skills in the spot Gold market.
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Hi, cesar, thank you!
ReplyDeleteThanks sir,, i am from invasting there my account got bloacke long back, but i used to watch your comment so far !! and this blog really helpfull for me as i ant log in invasting
ReplyDeletethanks
Good, welcome.
ReplyDeleteWhere are you from sir ?
ReplyDeleteColombia. Live in the US and share my time between both Countries.
ReplyDeleteThank you for your analysis Ceasar. I am glad to be able to join this blog :)
ReplyDeleteThank you, hopefully we will bring together a good team.
ReplyDeleteWOW ! great sir,, and there will be a pull back to 1333 before going 1252 ! right or your expecting 1320 ?
ReplyDeleteNot now, it all depends on tomorrow´s data but I would expect a good buying opportunity between tomorrow and Friday.
ReplyDeleteYup,, great effort sir really appreciate this mind to help people !! and i am really learning all technical analysis now, lost too much when i trade without any knowledge ! so now would like to learn, how you can help me for learning sir ?
ReplyDeleteHi Cesar! Good to read your views on prospects of gold. I am waiting for a buy opportunity at around 1333-1335 i guess it will be enough for the weekend. I am not waiting any calming in the world affairs till 10th of September and there is a new hurricane developing too. But after these i guess there will be major pullback..
ReplyDeleteYeap, we will see tomorrow what the best entry level is.
ReplyDeleteHi guys , thank you for all the info Cesar glad to be here :)
ReplyDeleteGlad to have you here too, Omar. Are you into any position at the moment?
ReplyDeleteNo i missed out at the gap and just waiting for and hoping or a big dip to buy from .. question is how low will it go. thinking 1327 once again.
ReplyDeleteDifficult to say, but we will stay on top on it. Worst case scenario we will buy on Friday´s lows, if nothing extremely bearish happens tomorrow.
ReplyDeleteyeah been reading your comments, its just such a pain to miss it twince once from 1307 then from 1327 .. that hurts haha :-)
DeleteI know how frustrating it is but for now let´s hope that Friday (may be tomorrow) will finally give you a chance to finally get on for a 1374 target.
ReplyDeleteLet's hope so my friend .
DeleteGreat work Cesar, congrats. I'm looking forward to reading your posts.
ReplyDeleteWe will do our best to keep this site focused and free of spam.
ReplyDeleteHello Mr Cesar Torres, i'm Clara from Indonesia.
ReplyDeletei'm already lost 9825$ for last week, and i only have 3250$ for make a transaction. I'm really scared lately for make a decision for buy or sell because the geopolitic issue from NK or from Trump.
can i restore my equity with 3250$ left on my account?
need your advice sir
thanks
Best Regard
Clara Debora
You sure can Debora, let us know your exact situation is, what positions you have, how many lots and entry levels and we will get you out of it. it is quite possible. People have gone from USD 3.000 to USD 10.000 in no time but being very disciplined. One tip I can give you is not to risk more than 10% of your equity, shorten your losses and extend your profit is a general rule.
ReplyDeletei dont have any position right now sir, i'm still learning lot of from my demo account now. i think learning first is better for me, trust broker advice too much can destroy your equity like myself, (thats the best experience for me)
Deletei'm still finding the best entry level now sir. thanks for the tips sir, it's okay for you if i always keep up with your advice sir?
We do not discuss strategies for Demo Accounts, the idea is to share experiences with folks that are trading real time. Soon we may discuss the posibility of having educational webminars. So please only real time trading here considering that we are not charging any fees on this site and the effort put into these is huge since it takes precious time to continuosly update the blog.
ReplyDeleteyes sir. i mean because of my huge lost on my real account (9825$), i'm too scared now trading on my real account. What about my friend tips to take opportunity with news sir, like take buy order and sell order 2 point from recent price. like rate and non farm employment news?.
DeleteThank you
Hi Debora, just keep patient until we got nice entry level for us.
ReplyDeleteSir Torres is trusted person, so you can count on him.
dont do reckless step anymore, we have same problem here, i only have 3000$ equity now,i hope i can recover my 10.000$ equity.
good luck and happy trading