legendary trader

Chapter 205 204 The Price of Gold Is About to Peak
The three of them went downstairs talking and laughing, and Zheng Xiaopang asked suddenly: "I said that crude oil futures started to close their positions with a smile and left. Where is our gold closed? After the market opened in Europe at 5 o'clock, it broke through 300 meters." Yuan."

Chen Fan thought about it and said, "Why don't you close your position when you get more than 310 meters, what do you think?"

Zhang Yang urged in front: "Let's go, you can chat slowly at the dinner table later."

"Who is going to buy Miguo Software tonight? We haven't got enough of that stock yet." Zheng Xiaopang said, taking a few steps hastily.

"Come on, let me go, you and Xiaofan go to watch the gold." Zhang Yang said.

Zheng Xiaopang patted Zhang Yang's shoulder twice with a chuckle and said, "Then I will trouble you, brother."

"What's the trouble? I get paid here. There are also bonuses for the night shift, and finally a commission. I'm quite satisfied with my life now, which is much better than working in a futures company in the past."

Zhang Yang said with a satisfied face, "Many of my classmates are still envious of me, saying that I joined a good company and got a house and a car after only one year."

"The house and the car are nothing. Next year we can travel by plane. Hey, what are your plans for this weekend? Going to the old man's place or something?" Zheng Xiaopang said.

"Hey hey hey" Zhang Yang said with a little embarrassment: "Go to accompany the daughter-in-law, who will accompany the father-in-law."

"Look, it's the two of us, where are we going to play on the weekend?" Zheng Xiaopang gave Zhang Yang a blank look, then turned to Chen Fan and said.

Chen Fan shrugged, "I have nowhere to go. My wife is still in Suzhou and Hangzhou. Is there a good place for Fat Brother?"

"Then let's go to the Bamboo Sea, the weather is hot, so it's cooler over there." Zheng Xiaopang said.

After 8 o'clock in the evening, the three returned to the company and went directly to the gold trading room.

Walking to the door of the trading room, Chen Fan patted Zheng Xiaopang on the shoulder and said, "I'll see how the crude oil is doing first, you can do whatever you want."

Speaking of which, Chen Fan entered the crude oil trading room.

After turning on a computer and calling up the trading data, Chen Fan asked, "Today's trading is pretty good, and more than 5 lots have been placed."

The trader next to him smiled and said, "No, the usual trading volume is the same. If there is no unexpected situation in the market, most of the positions should be closed tonight, mainly to see what happens after the market opens in the US. "

"Well, try not to close the position higher than 13 yuan. If there is any situation, call me. I'm at the gold plate next door." Chen Fan looked at it and thought that there was nothing wrong with him, so he said to the trader.

"How much gold is there? Has it reached 310?" Chen Fan walked into the gold trading room and asked.

Zheng Xiaopang smiled and said, "Come on, we've reached 304, now we're calling back, that cup of tea is yours."

Zheng Xiaopang pointed to a cup of tea on the table and said.

Chen Fan sat over and looked at the gold market. After the volume broke through the 5-meter barrier at 300 o'clock, the gold price has been fluctuating and rising slightly.

"There were two waves in more than two hours, and the rising speed is a bit slow." Chen Fan said while looking at the computer screen and patting his forehead.

"Have you calculated how much we earn when the price of gold rises by 1 yuan?" Zhang Yang asked aside.

"I'll do the math," Zheng Xiaopang answered, and started to click on the calculator attached to the computer to start the calculation, muttering while doing the calculation: "100 ounces per lot means 100 yuan per lot, how much do we have, um , 10 hands, 1000 million.".

Zhang Yang curled his lips and said, "You still use a calculator for such an easy calculation. Your math teacher will beat you to death if he finds out."

"Hey hey" Zheng Xiaopang said with a smile, "How about my math, don't you have a hard number in your heart?"

"Okay, Xiaopang is the top student in our class, there's nothing to say about that." Chen Fan laughed dryly.

Seeing Chen Fan's unnatural smile, Zheng Xiaopang asked, "What's the matter? The price has risen so well, is it going to hit the market again?"

"No." Chen Fan shook his head and said, "I just think that the rise in gold price this time is a rebound. It stands to reason that it should be a rapid rise. It has been consolidating for most of the day below 300 yuan. Now it has not risen much after breaking through. , I feel a little bit up and down."

After speaking, Chen Fan saw Zheng Xiaopang and Zhang Yang frowning and looking at the gold trend chart, with a confused look on their faces, and then asked, "Do you understand what I mean?"

Zheng Xiaopang shook his head and said, "No, I think the rise is quite good."

Zhang Yang didn't answer, he was just thinking about what Chen Fan meant, how could he judge that the price of gold could not rise.

Chen Fan thought about it and said: "First of all, we must make sure that this rise is a rebound rather than a market reversal. You must know that there was no bottom before this rise, and it started to rebound after falling directly to the bottom. It’s a short-term, fast-in, fast-out market.”

After speaking, Chen Fan looked at Zheng Xiaopang and Zhang Yang.

Zhang Yang nodded, and said: "There is no bottoming, and it started to rebound immediately. But isn't there good news for gold? It rose as soon as it was stimulated, so there was no bottoming."

"That's why I think it's a rebound, not a reversal. The rebound stimulated by the good news will not last long." Chen Fan continued following Zhang Yang's words.

Zheng Xiaopang waved his hand and said, "Don't talk about being so hung up, just say where you plan to start closing positions."

Chen Fan thought about it and said: "There is still a period of trading from tonight to tomorrow morning. I think we will see a rebound soon. Next week, Bacheng will start to fall."

"You mean that by the end of this week's trading, the price of gold will rise to 320 or even 330 yuan in the next ten hours. It will increase by 2 yuan an hour, which is about the same as the current increase." Zheng Xiaopang said with a wink. .

"There is still time to build the top. It is impossible to rush there and start falling. And there is no telling when it will peak, maybe tonight, maybe tomorrow morning." Chen Fan said with a light smile, his eyes fixed on the computer Screen.

Chen Fan will not tell them that the brightness of gold has become very dim, and it is estimated that the increase will not exceed 10%. Now it is appropriate to pretend to be aggressive.

"Is it possible to reach the peak next week?" Zheng Xiaopang raised his bar and asked with a smile.

"This, of course." Chen Fan had no way to refute, since the market didn't come out, he could only analyze it according to the market.

"However, if it peaks next week, at the current rate of increase, the peak will occur during the Asian market trading hours. After the European market opens, it will almost fall all the way. It doesn't feel in line with the gold price trading practice." Chen Fan said Rebuttals can be made based on time calculations.

"It doesn't matter when it will peak, if the price of gold reaches 310 yuan, let's just put thousands of lots out slowly." Zhang Yang interjected, "Is it meaningful for you to fight for when it will peak? Closing positions is the only way to make money." Money, if you don’t close your position, it’s just floating clouds, just wealth on paper.”

"Is 310 yuan a little less? I think it would be better to put it at 320 yuan." Zheng Xiaopang still felt that the price of 310 yuan was a bit low to close the position.

Zhang Yang shook his head and retorted: "Do you remember the transaction when the gold price was below 260 yuan? After the bottom, the trading volume was still a fart. If we hadn't closed most of the positions above 260 yuan, there would have been no positions at all. May open a long position. I think it is appropriate to close the position when it rises."

(End of this chapter)