Gold

It'll be a good shout. Mind you the 61fib, and 1629 would probably be better but who's splitting hairs eh

I've closed my long on this now and gone short on a backtest of the main uptrend at 1659.

I've been stopped out of this now. Should have kept it simple and stuck with my long from the short term trendline. I'm sidelined now...

H Jackozy, Is Gold going to touch 1650's area again.
Trying to see a buy order around 1655 or below. Thanks. RG2

Hi RG2,

Personally I'm sidelined on this now and waiting for a test of the main downtrend which is at 1767.75 today:



dl.dropbox.com/u/20815047/Golddaily03_01_13.gif

That level will fall daily of course and there's a minor resistance at 1754.4 too so I'm going to short it at that trendline on a first attempt only basis. In fact, if you look at the post $1921 move there's a clear sideways trading range between 1522 and 1800 too as shown here:



dl.dropbox.com/u/20815047/Golddailyrange03_01_13.gif

Gold potential long

clip2net.com/s/2FIgU




I will await price action on this
But could be in a wave 5?

Regards RMc