Gold

[Steve Griffiths]

Hi Everybody,

After all this talk about Gold I though I would take a look at the daily chart........... please see below.

Here (using the day session data only, CSI data) we had a red (sell) bar on Mar 22, right at the Typical Wave C WPT........... this gave us a perfect MTP trade set-up.

As you can see, yesterday Gold triggered a new short trade then fell sharply............ :)

We are already past the 100% initial risk point and all on the first day of the trade :)

Steve

[d-day]

Here (using the day session data only, CSI data) we had a red (sell) bar on Mar 22, right at the Typical Wave C WPT........... this gave us a perfect MTP trade set-up.

As you can see, yesterday Gold triggered a new short trade then fell sharply............ :)

We are already past the 100% initial risk point and all on the first day of the trade :)

Steve

Too bad you didn't post this chart on the morning of the 23rd instead of the 24th!

[AndyvB]

My data (not CSI) did not show a red sell bar...but another thing is that first notice day is March 30, so I personnaly like switch to the next month at least a week before when doing EOD trading...nevertheless a great trade. June also did not show a red sell bar..oh well that's what makes trading interesting, and so that we all have different entry points!

[Steve Griffiths]

Hi Guys,

The data difference is probably the difference between "all session" and "day session". I am using "day session only" here from CSI (Unfair Advantage). As you see, we have the same sell on the 22nd on the June contract :)

Steve

As a PS, I have just double checked the continuous front month from Genesis and Mar 22nd is also a red (sell) bar.....

[Steve Griffiths]

Hi david,

I would love to post charts before the set-up but I do not for two reasons, the first is that by UK law I am not allowed to give financial advice hence all my examples have to be in hindsight (yes we have stricter financial laws here in the UK compared to the USA).

And secondly, if I posted all possible trades for free on the Forum then people would not have to buy the software ..... ;)

This is why I always shows examples for training purposes, after the fact. But either way the software still automatically found this using the day session only data from CSI...... :) and was a nice trade set-up..

I hope this helps ?

Steve

[d-day]

Hi david,

I would love to post charts before the set-up but I do not for two reasons, the first is that by UK law I am not allowed to give financial advice hence all my examples have to be in hindsight (yes we have stricter financial laws here in the UK compared to the USA).

And secondly, if I posted all possible trades for free on the Forum then people would not have to buy the software .....

This is why I always shows examples for training purposes, after the fact. But either way the software still automatically found this using the day session only data from CSI...... :) and was a nice trade set-up..

I hope this helps ?

Steve

Hi Steve,

I can understand your concerns. Maybe you could consider adding a page to the members only section of the mtpredictor.com website where you and us paying customers could post before the fact set-ups. So long as you post "These charts are for educational purposes only ... yada, yada, yada" you would not be perceived as offering investment advice, especially as you do not receive compensation for such advice. This would also solve the problem of posting every MTP set-up publically before hand and thus eliminating the need for others to purchase the software, since all those with access to the members section would by definition already have purchased MTPredictor.

That being said, there is a very nice looking short sale set-up coming on my screen today. I snapped a screenshot of it, and my orders are already placed. I'll post that shot Monday after the close, along with a chart updated showing Monday's price action. I don't do too much EOD trading anymore, but this particular set up looks very good to me. So let's see what happens.

[martinrcox]

Hi Guys,

The data difference is probably the difference between "all session" and "day session". I am using "day session only" here from CSI (Unfair Advantage). As you see, we have the same sell on the 22nd on the June contract :)

Steve

As a PS, I have just double checked the continuous front month from Genesis and Mar 22nd is also a red (sell) bar.....

Hi Steve,

This set up also appeared on e-signal on the gold continuous contract within the forex category. For some reason if you subscribe to their forex package you get metals included under their forex code. What I liked about it was the shape of the swings which are very regular

[rrs]

The Gold ETFs have all generated sell signals that have not been triggered yet.

GLD is StreetTRACKS Gold Trust, the newer gold ETF. IAU is iShares COMEX Gold Trust.

Rama.

[rrs]

CBOT's 100% electronic Gold contracts have generated sell signals that are yet to be triggered.

ZGM07 is the CBOT's June Gold Contract (Full Size Contract). MTP (EOD) automatic routines did not generate the trade setup and sell signal, probably due to some differences in the data.

YGM07 is the CBOT's June Mini Gold Contract that automatically produced the trade setup and the sell signal in MTP (EOD).

Rama.

Note: Trading hours for these two electronic contracts : 6:16 pm to 4:00 pm, Central Time, Sunday-Friday.

They should start trading today (Sunday 25th March, 2007) in approximately four hours.

[ericd2281]

As a background I am currently short April Gold and chose the electronic Nymex Gold (GGC) contract to trade. I was filled Firday (3-23) around the Market Open.

The discussion of differences in data bring up an interesting point. The point is the idea of 'substituting' one contract for another. In this case with Gold there are multiple contracts to choose from to trade and are all based on the same physical commodity.

How do each of you go about choosing which contract to trade?

Regards,
Eric

[chrisg]

Hi Guys,

I try to trade only electronic contracts when trading the front month. Say a buy in corn comes up on the 067 contract, i then move over to the electronic contract and see if the pattern looks similar. If it looks similar I then use the same bar on the electronic contract that came up on the 067. The same goes for pit traded contracts, I look to see if the electronic looks very similar. I hope that i explained my self clearly. I to would have done the same as you with gold. I did not take the trade due to the fact that my dsl has been down for a week, but these are just my ideas i to am open to other opinions.

Chris

[rrs]

As a background I am currently short April Gold and chose the electronic Nymex Gold (GGC) contract to trade. I was filled Firday (3-23) around the Market Open.

The discussion of differences in data bring up an interesting point. The point is the idea of 'substituting' one contract for another. In this case with Gold there are multiple contracts to choose from to trade and are all based on the same physical commodity.

How do each of you go about choosing which contract to trade?

Regards,
Eric

Hi Eric,

I usually look at the traded volume of a particular contract and the approximate time the trade setup needs to reach its potential target.

Regards,

Rama.

[Rimu]

Looks like daily spot gold may be setting up??? (MT4 data)

[knightrider123]

Hi All,

Attached is the charrts of Gold. On the 11th of this month we had a situation where we had a good ABC right at the WPT. Then there was a buy signal and phut!!! the price went down. See Gold11-5.

We are still at around the WPT. Will another buy signal be a valid signal.


Manish