Thursday, September 28, 2017

Spot Gold Price is hanging around 1282, I did close my last short position @1278 and will wait for data release to decide if whether I take a new short or just stay away for the week considering that it has been a good week for me. Resistance is @1284 and @1294 and supports come @1277 and @1271. Penetration of 1271 will take the price down to 1260 where I would expect a decent rebound to 1280 at least. The weekly and monthly close will give us a clue on what October will bring to the market. Whatever side you chose today use tight TPs and make sure yo walk away with some profit this week.
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11 comments:

  1. HighseasSeptember 28, 2017 at 6:43 AM

    congrats, was not a bad week here either. I opened a intraday long, targeting 1288 and 1299. SL almost at break-even

    ReplyDelete
  2. CesatoSeptember 28, 2017 at 6:46 AM

    Ok that´s clever short term. In 45 min we´ll get news from the US.

    ReplyDelete
  3. HighseasSeptember 28, 2017 at 7:07 AM

    jip, just an intraday, on a retracement position, thinking pre-news might trigger some safehaven buying. TP in profit not.. very small, but at least no great risk

    ReplyDelete
  4. HighseasSeptember 28, 2017 at 7:35 AM

    data seems good for GDP, bad for unemployment, got out of the replacement long with some profit, will wait for next confirmation, either short trend resume, or retracement to 1299 still in play

    ReplyDelete
  5. UnknownSeptember 28, 2017 at 7:51 AM

    Sir so xau still downtrend?
    How about geopolitic usa and north korea?

    ReplyDelete
    Replies
    1. CesatoSeptember 28, 2017 at 8:14 AM

      It is in a downtrend, I believe the NK issue won´t be relevant anymore until when the first bomb is dropped, the market got used to hear those guys threatening each other and won´t react to harsh language anymore. Interest rates and sort of good US data are leading the markets for now.

      Delete
  6. UnknownSeptember 28, 2017 at 8:20 AM

    Sir. When the result about tax reform mr. Trump?

    ReplyDelete
  7. UnknownSeptember 28, 2017 at 8:38 AM

    I read all investor waiting for tax reform.

    ReplyDelete
  8. HighseasSeptember 28, 2017 at 8:46 AM

    the tax reform still has a long way to go, its going to face a fierce battle at congress, not even all republicans are sold on it yet, the democrats are not buying it, i cant see this reform bill being passed before december

    ReplyDelete

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