Get started

Commoditytrading

Wheat Short Position Initiated on Daily ChartWe initiated a short position on wheat futures through OANDA platform on daily chart, based on constructive price action pattern and some fundamental indications that the extreme cautions about the 2017 wheat production are way too exaggerated. As the summer progress we see increasing downside pressure and possible good profit opportunity. Our Reward/Risk is 1, although we expect further downside potential and may join the trend in a later point again. A contango situation when the short position pay off just for holding it is also present that additionally favor keeping this position for longer.
OANDA:WHEATUSDShort
by auroraspot
GOLD Retains Its Upside PressureGOLD: The commodity continues to hold on to its upside pressure short term leaving risk higher in the new week. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,300.00 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,320.00 level. Strategy: Buy at 1,279.00, Stop loss at 1,264.00, Price target at 1,295.00 & 1.305.00
FX_IDC:XAUUSDLong
by FXTechstrategy
XAGUSD looking for LONGXAGUSD has been consistently growing on the Weekly timeframe: We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement. Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40 The main trendline (violet in the chart) should anyway hold on the Daily.
FX_IDC:XAGUSDLong
by AlbionTrader
XAGUSD looking for LONGXAGUSD has been consistently growing on the Weekly timeframe: We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement. Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40 The main trendline (violet in the chart) should anyway hold on the Daily.
FX_IDC:XAGUSDLong
by AlbionTrader
Gold to post a corrective bounce in the coming monthsThe anticipated bounce from the USD1123.50 (76.4%) retracement of the December-July rally is unfolding, with Gold prices now approaching USD1200 as oversold studies begin to stabilise. A push above here is looked for, as investors sentiment gradually improves, but the USD1300 break level is expected to prove difficult to reach, as the Tension Indicator (not shown) continues to weaken and background studies turn mixed. An unexpected close below the USD1122.80 low of December 2016, however, will negate higher levels, and open up congestion around USD1100, as the July bear trend gathers traction
FX_IDC:XAUUSD
by Michael_Macdonald-XATSUK
2
Still biased to the long side(GOLD)GLD held the broken trendline and the $110 level. The price action at these levels does not jump off the screen at me, meaning it looks shaky IMO. I would not be surprised if we revisit $100. I still believe the long-term R/R is to the upside from these levels. I will be looking to buy dips b/w 100-110. I would stop out under 100. Let's breakdown the R/R. I am willing to risk up to $12 to the downside. I like the upside to be 3x my risk. My initial upside target is $147.75-(3*12)+111.75. In trading you are looking for positive expected value propositions. To get this you take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. It is an imperfect measure, but it allows you to frame your trades on a consistent basis so you can compare what the best available trades are at a given moment. Any comments or question, please leave below, look forward to hearing your opinions. Caleb
AMEX:GLDLong
by CalebDismuke