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Video / 16 February 2017 at 8:19 GMT

Why I'm buying gold: O'Hare

Steve O'Hare - First 4 Trading
Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is trading gold.

O'Hare is buying at current levels at $1,232/oz with a stop at $1,215. His targets are $1,245, $1,278 and $1,300.

O'Hare features technical analysis of a selected trade every Thursday on Trading Floor.
16 February
Travis Travis
I agree with your trade idea as I've been considering the same. What's your expected timing for gold to hit 1275 and 1300ish? Do you trade miner etf funds like gdx or gdxj?
17 February
FBT431 FBT431
Dear Steve, does your idea still valid in general? And what about horizon of this idea? Thanks!
17 February
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Yes this trade idea is still valid and i would look to continue to buy dips. The 2nd/3rd targets are more of a 2-4 week time frame
17 February
FBT431 FBT431
Thanks
20 February
FBT431 FBT431
Is current price enough dip for buy?
20 February
MSN28 MSN28
Steve, do you still believe in your initial idea?
20 February
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Good morning! Yes, my current medium term strategy is to continue to buy dips. As expected $1245 is proving a tough resistance to break - but i still believe it will eventually. $1220 remains my ideal buying level. My daily trade idea is to buy at $1230 to target a move back towards $1245 with a tight stop at $1224
21 February
MSN28 MSN28
Steve, hi! Do you think today's dip is a good opportunity to buy?
21 February
FBT431 FBT431
And do you still believe in the growth of gold in 2-3 weeks?
21 February
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Yes, although there is a pull-back today i still believe buying dips close to 1220 is good risk/reward
22 February
FBT431 FBT431
You didn't open position on a dip price 1227 yesterday, are you waiting to dip price to 1220, or...?
22 February
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Gold is trading sideways, ranging between 1220 and 1245 on an intraday basis. I am still bullish on this and expect a move higher over the more medium term towards 1278-1280
22 February
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Today i am looking to set longs around 1230 to target 1245 with a stop below 1220
22 February
FBT431 FBT431
Thanks!
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