Gold

Remember this chart from previous post?

now keep an eye on gold back-testing the break point, i'll be looking to short on 1st attempt.

dl.dropboxusercontent.com/u/40497882/Gold_30_Apr13.JPG


u/40497882/Gold_30_Apr13.JPG

here's the monthly view - long term target is in the greenzone once one red zone is cleared

dl.dropboxusercontent.com/u/40497882/Gold%20monthly%20APR13.JPG

two inside bars
Short @ 1468.7
SL above the high of IB
Sorry no chart as at hospital

Hi Remo,

If we go higher than 1487 would that be classed a a 123 low?

Thanks
Amo

Hi amo
Thats correct mate. That would be the signal for a 123 low.
The only problem with this is that its about 140 points difference between the 1 and 2 point.
I dont like having that much risk between the stop loss.
So your right in identifying the 123 low.


dl.dropboxusercontent.com/u/4899609/gold23may.png

sorry for the delay in posting as am busy with the server Once i move to the new server i will post more.

Gold has blown past the $1400 mark this morning - which is a bullish sign, as it was resistance for a week or so.