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I have received an email from a reader which made me upset, he was basically saying that I just make calls and I don’t really trade anything, especially Gold. So, Jonathan, here’s a snapshot of one my broker statements and some trades on Goldcorp,. There’s an expression in Brazilian Portuguese which says “mate a cobra e mostre o pau”.

Disclaimer: Jonathan, these are short term trades and trading is a very risky business.

Using the 60mins regression channel to add to my position. Currently at 2 standard deviations.

And here’s the current daily chart.

Mini Gold Contract (YG) - 60 minutes bars

I’m splitting my gold position between Goldcorp (G.TO) and XGD.TO which is the Canadian Gold ETF.

The first chart is the Daily CandleVolume for XGD. Note the volume on the breakout.

In order to gain more perspective, I’m adding the weekly chart (regular candles) where you can also see the increased volume on the breakout.

Also important to notice on the chart above the two previous attempts.

Finally, let’s get an update on the Gold contract (below). Looks ready to attack the previous highs.

I’ve had multiple trades on Golcorp lately. Added to my position yesterday at $48.38 and today at $45.99 on the dip. Stock is trading at –2.00 or –4% for the day.

The following is the 60 minutes chart showing my entry at the bottom of the lower channel.