Kitco's Jim Wyckoff's buy and sell stop data give investors an idea of some of the key levels to watch during the daily trading session. Investors could see big moves in gold and silver if these daily levels are breached.
Below are today's likely price locations of buy and sell stop orders for the active Comex gold and silver futures markets. The asterisks denote the most critical stop order placement level of the day .
See below a detailed explanation of stop orders and why knowing, beforehand, where they are likely located can be beneficial to a trader.Stop orders in trading markets can be used for three purposes: One: To minimize a loss on a long or short position . Two: To protect a profit on an existing long or short position . Three: To initiate a new long or short position. A buy stop order is placed above the market and a sell stop order is placed below the market.
Most stop orders are located and placed based upon key technical support or resistance levels on the daily chart, which if breached, would significantly change the near-term technical posture of that market. Having a good idea, beforehand, where the buy and sell stops are located can give an active trader a better idea regarding at what price level buying or selling pressure will become intensified in that market.
The major advantage of using protective stops is that, before a trade is initiated, you have a pretty good idea of where you will be getting out of the trade if it's a loser. If the trade becomes a winner and profits begin to accrue, you may want to employ"trailing stops," whereby protective stops are adjusted to help lock in a profit should the market turn against your position.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Your daily horoscope: September 7Your daily horoscope
Lire la suite »
Wednesday's Charts for Gold, Silver and Platinum and Palladium, September 6Get the Big Picture view on gold, silver and other precious metals markets with Kitco Senior Analyst. With thorough analysis, get a sense of today's market as well as where it may be heading. Be in the lead.
Lire la suite »
European Central Bank policy-makers say September rate decision still up in the airWith economic activity deteriorating across the 20 countries that use the euro and inflation easing, investors are betting the ECB will end its streak of nine consecutive rate increases on Sept. 14
Lire la suite »
Property owners in Oshawa invited to pick up a free tree this SeptemberIf you're looking to add some colour to your property, some trees in Oshawa are free to a good home. The city's Environmental Advisory Committee (OEAC) has a
Lire la suite »