04/07/2014 – Gold
- April 7, 2014
- Gold
Issued: 04/07/2014
June gold, previous update:
1. We are now trading in June gold.
2. Continued hourly and daily closes above $1288 in June gold indicate continued advance and test/attempt at $1312 (or higher) into early next week.
3. From this point forward, any touch and hourly or especially daily close above $1291 in June gold makes $1291 (or higher) buying territory for the above-noted advance. Aggressive can enter at higher prices.
4. Initial long position exit should be taken at/near $1299. A further portion exited at/near $1309 (against the $1312 target), and the remainder held for the possibility of higher prices to be noted in a subsequent update.
5. Once long, and initial protective stop should be placed at $1284. This stop will be moved up as the market continues to confirm.
Latest update:
1. June gold advanced quickly after both hourly and daily close above $1288 and $1291 buying territory noted in the previous update.
2. Partial long position exits were taken at $1299 or higher as instructed (recent swing high, $1307.50).
3. Higher prices remain indicated including a test/attempt at $1312 (or higher) into Tuesday, April 8 (+/-1 day).
4. Protective sell stop should be raised to $1290.00. This stop will continue to be moved higher as the market continues to confirm.
David Williams
Issued: 04/08/2014
June gold, previous update:
1. June gold advanced quickly after both hourly and daily close above $1288 and $1291 buying territory noted in the previous update.
2. Partial long position exits were taken at $1299 or higher as instructed (recent swing high, $1307.50).
3. Higher prices remain indicated including a test/attempt at $1312 (or higher) into Tuesday, April 8 (+/-1 day).
4. Protective sell stop should be raised to $1290.00. This stop will continue to be moved higher as the market continues to confirm.
Latest update:
1. Today’s June gold continued on the recent advance from $1288 and completed the forecast $1312 upside target expected into today, Tuesday, April 8 (+/-1 day). Today’s session high has been $1314 .70, so far.
2. Final long position exits were taken at $1309 (or higher), noted in the original update. This completes the trade.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.