Hubert Senters here.
Got a question from Elliot.
Hi Hubert,
When do you believe Gold may surpass $200? I think you’re thinking $2,000 instead of $200.
So the close of Gold on Aug 7th was 2028, the Aug 10th close at 1:30PM was 2039. My question is first being that it was up by 11 points would you have taken this trade?
So yeah what I do I would have. Yes.
And at what time either that day or the day after would you have placed this long trade?
So I’ll go through that. Let’s cover that first and then I’ll cover your second part of your question.
Yes. So let me grab this and move that out. We’re looking at a chart of Gold here in just a second. At GC so here’s the day that it sold off And then what you’re talking about the 10th would have done it. Let me take a look at when the 10th was.
That’s the 7th. That’s the 10th. This is the 7th. When I bought it that day ideally these are the filters that I like to use. Above the cloud, check. Up three points on the day if it would have been up three points on that day, yes. It would have gone long.
If not wait until the next day. The next day looks like that. It did not have them. And then the next day you’re up three so right here is the day where I would start nibbling on little lovely Gold right here.
When it’s in a major uptrend it had a pullback. And then I want to be up three on the net change. Ok. Now, if you don’t like that being aggressive which you may not because that’s kind of aggressive trade.
What you can do is you can say I’m going to let it pullback to the standard line and close above the standard line or better yet pullback to the turning line go to the standard line and cross back above turning line so cross the yellow cross the purple and then close back above the yellow then you can also get long there.
So there are several different techniques you can use there. All three are effective depening on what your stop-loss is and depending on your trading psychology and how well you can hold on to a winner.
Let’s cover your second question here. It wouldn’t matter to me what time of the day that was. I would do it either first thing in the morning or late evening as long as its net three on the day up I would do it.
Next question in a bracket trade such as SQ if it’s above the cloud but it goes below the bracket close would you take the short even though it’s above the cloud and the ADX is above $20?
Yeah. I would. Let me just double check. Let’s take SQ. So on a bracket trade like that I wouldn’t have a problem going short so this is Elliot’s concerns. You got up one. Down one. The bracket is a trade or a close below that.
So in that situation I wouldn’t have a problem shorting that and I wouldo go half a gap fill on that window and then a full gap fill. I would know that the odds since I have a pretty good nice trending equity in an uptrend.
It’s above the cloud. It’s above all of the turning and the standard line. It may not work and I may lose money but the strategic crystal clear cut checks for bracket trade above that line at $158 it’s a long below that line at $146 is a short, stop there. Target one and then target two.
Good luck. Hope it helps. See you on the next video.
Hubert.
