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Here Is My Gold Trade


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Gold Futures--- Gold futures in the December contract are currently trading higher by $5 at 1,288 an ounce as I am currently sitting on the sidelines, but I will be recommending a bullish position if prices break 1,293 while then placing the stop loss at the 10 day low standing at 1,265 risking around $30 or $3,000 per large contract or $1,000 per mini contract plus slippage & commission as the chart structure is outstanding due to the fact that the volatility remains low.

The U.S dollar is near a 4 week low as a possible double top may have been created around the 95 level and if this trend continues to go lower that tells me that gold prices have bottomed out and will head higher as we have tested the 1,265 level probably 1/2 dozen times and has been upon able to crack that level.

Gold prices are trading above their 20 and 100 day moving average for the 1st time in quite some time as the trend remains higher & if the 1,293 level is broken I think we will retest the October 16th high of 1,308 as I am also bullish silver prices while bullish most of the commodity markets across the board despite today's trading action as there is a possibility that the U.S dollar has topped out and will start to head lower while adding fuel to the fire to the bullish trends that are occurring at the present time despite the fact of the slow grinding momentum.

TREND: MIXED---HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY---LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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