Questions

help needed in gold

by niftymaster on Jan 13, 2010

i m holding gold from $1152 , what should i do now some 1 please help,currently make low of $1118.60 and now trading at 1124



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6 Answer(s) found. Leave an Answer.

Answer from tiagobromao on Mar 2, 2010
tiagobromao
the answer is simple, if you don't know what to do and need to ask others is because something is wrong with your trade, so my advice is get out now, think well before getting in again and always have some technical indicator to support your decision, that way you will always have something to help you. My Personal opinion is that it will go up before the big fall, but terms of price I'll buy if it reach 1.155 with a stop loss on 1140 and my position will be small, if it reach 1.045 I'll Sell with a Stop Loss on 1.055 or 1.060 and it will be a big position

Answer from 4payday2 on Feb 4, 2010
4payday2
If you hold your gold for long term, you will not go wrong. The feds have guaranteed this.

Answer from MichaelL on Jan 25, 2010
MichaelL
Hi Hope you got out in time. Best regards Michael

Answer from LaneMen on Jan 20, 2010
LaneMen
MichaelL - great response. Hope niftymaster can answer some of the questions we asked in response to his original question. I wonder if "niftymaster" relates to the Indian Stock Exchange?!

Answer from MichaelL on Jan 20, 2010
MichaelL
Hi, It is hard to tell on what criteria you went in. If you look at the daily chart I tend tosay gold will go down. A close below the 1115 area will confirm this. First stop after this will be 1076 area, then1027 area and 975 area. With a close over 1150 it starts to look positive and a close over 1167 area will really confirm an up trend. I personally use a 4 hour chart and are short Gold. But on a 4 hour basis the gold has been diffecult to trade since start of 13. Jan unless you are scalping. The 20 SMA is however under the 50 SME and RSI is Below 50 so by my personal terms this is pointing down. Above is not in any way a trading recommendation but just my personal thourghts. But as LaneMan wrote to you, what does your own system or strategy tell you - You must have had a reason for going long - Does this reason still exist? if yes stay in you position if no close your position. Good luck and good trading

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