Gold dumps $48 in 1-minute

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tsptalk

tsptalk

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During Sunday night futures trading, Gold fell $1128 to $1080 in one minute. It has since rebounded and regained about half the loss trading at $1109 about an hour later. It wasn't at the open either. It had been trading a couple of hours already when it puked.

That's a big move. Something fishy going on?
 
Here's the 5-minute chart...

071915a.gif
 
James48843 said:
It appears it may have been a mini-flash-crash caused by stop-loss automated sell programming.

The markets were closed in Japan, so there was very little stopping a quick free fall.

The trigger looks like it was pulled when it hit $1130.

Looks like when human beings saw the drop, they jumped back in. Now doing better.

See Gold just got destroyed - Business Insider

Currently back to $ 1,109
Gold Price Today - 24hr USA Gold Spot Price Chart & History
Click to expand...

Gold was down a lot Friday. Silver is also down now. I'm thinking this is more than someone pushing the wrong button or a rogue GOLD program. JMHO
 
U -

Did your system have a position in Dust, or did you close flat on Friday?
 
userque said:
Went to DUST at OPEN on FRI...Still in DUST
Click to expand...
Awesome! I hope it holds into the open for you. It looks like it will because it hasn't moved much in the last hour or two.

I scalped a $7 move from $1103 to $1110 in the futures. That was a nerve wracking 15 minute trade because it was still bouncing around quite a bit at the time.
 
tsptalk said:
Awesome! I hope it holds into the open for you. It looks like it will because it hasn't moved much in the last hour or two.

I scalped a $7 move from $1103 to $1110 in the futures. That was a nerve wracking 15 minute trade because it was still bouncing around quite a bit at the time.
Click to expand...

Thanks. System actually called for a gap up open with further decline into the close, but with this anomalous price action tonight, anything goes.

Sweet play! Maybe it'll eventually retrace and you can catch another trip before the days over.
 
tsptalk said:
During Sunday night futures trading, Gold fell $1128 to $1080 in one minute. It has since rebounded and regained about half the loss trading at $1109 about an hour later. It wasn't at the open either. It had been trading a couple of hours already when it puked.

That's a big move. Something fishy going on?
Click to expand...

Maybe China selling gold caused it?

China sells gold, sharply pulls down price

https://in.news.yahoo.com/china-sells-gold-sharply-pulls-down-price-134617922.html
 
Oh my, just saw the NUGT/DUST daily changes... -30.9% and +32.46% respectively... that is insane!
 
Really and truly, something this volatile ought to be left to Tom and other intraday traders....unless (as they also say in Vegas) you gotta system :D
 
RealMoneyIssues said:
well, true...

money management
Click to expand...

Yeah. This seems to escape most. Word Problem:

Jane trades her whole balance on one etf that averages a range of 2% per day. She is comfortable with that level of risk. What percentage of her balance should she use to trade an etf that averages a range of 10% per day and still be comfortable?

.....20%

Here's the rub. You can never increase you risk/reward with the 2% etf; but with the 10% etf and proper money management, you can pick and choose your risk/reward level upwards (or lower) from the 2% level!
 
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