要錢要命？

piggy3616

Yes ar
jjak 發表於 2010-6-11 11:50 AM

Paper gold, the price, is it moving instantly with Spot Gold price?

I have no idea on how to trade paper gold.

Can buy and sell (short) also?

Don't laugh at me ar......I really don't know about paper gold.

jjak

Paper gold, the price, is it moving instantly with Spot Gold price?

I have no idea on how to  ...
piggy3616 發表於 2010-6-11 11:55 AM

    Paper Gold only has one trend... only can trade upwards

kimkam

成朝都唔郁喎,1219sell要等歐市了

piggy3616

Yesterday gold moved lower as per expectation, dropped from 1,234.8 to 1,214.5, closed at 1,216.3, closed below 5 / 4 / 9 days MA and barely above 25 days MA.
Yetserday's support was 25 days MA.  <--- have to pay attention to this.
Trading range was 4 days MA to 25 days MA.

Let's use 25 days MA to distinguish between strong and weak.
In a rally, while 4 / 9 / 25 days MA are in ascending order (while all other longer MA are also in ascending order nicely) ......if the price drop, it will have support firstly at 4 days MA, then 9 days MA, eventually 25 days support.

A 25 day MA should hold (should have support) in normal case.
During the trading hour, the price may break below this MA.  But we only focus on closing price, whether it can still close above this MA or not.

Monday made the historical record high closing.
Then, Tuesday to Thursday, its highest and lowest price and closing price, trading downward.

From Daily Chart, 5 days MA is above 4 days MA and has formed a dead cross.  This dead cross is a pre-mature hint.  If today can close above 1,230, then can erase yesterday's weakness.

4 days MA, started from Wednesday, it changed its direction from pointing upward to pointing downward.

4 and 9 days MA, are still in ascending order.
If today still close below 9 MA, then on next Monday, 9 / 4 days MA dead cross may be formed.

Today, if buy.....I not dare....
Don't try to catch a falling knife......... it will hurt your hand.
Once the knife reach the floor and you pick it up from the floor, it won't hurt you.

If sell.... only when the price rebounce high enough..... then I will try to sell.

In 4 hourly chart, the 9 MA (mean 4 x 9 hours) is a strong resistance.
If you read 4 hourly chart, you can see, once it go up to this 9 MA, then it drop back.
Now, this 9 MA is at 1,222.3 <-- that mean big resistance above this price.

Please note all Moving Average (MA) is moving according with price.
Therefore, you should read from the charts to see how the MA move, not focusing on price.

piggy3616

Paper Gold only has one trend... only can trade upwards
jjak 發表於 2010-6-11 12:07 PM

But these few days only going downward, then you cannot do anything la.

piggy3616

成朝都唔郁喎,1219sell要等歐市了
kimkam 發表於 2010-6-11 12:13 PM

Cat Cat, now what order you have?

piggy3616

World Cup will start tonight.......probably traders will watch football, have no mood to trade la!!!

jjak

But these few days only going downward, then you cannot do anything la.
piggy3616 發表於 2010-6-11 01:04 PM

    I think so, just wait another wave .

piggy3616

From today's Daily Chart.

Resistance
5 days MA 1,228.6
4 days MA 1,225.7
9 days MA 1,224.1

Support
25 days MA 1,216.2

If you sell too close to 25 days MA........you may have to sit on boat for a while, normally can't suddenly fall down.

The price has to go up...... then drop from a higher price.......then may be able to break below.

piggy3616

My posts, do I look like reporting gold movement?  Like a reporter?

hahaha......hope you guys and gals enjoy reading my posts...........