Gold

remo wrote: My 1424 resistance is near by

dl.dropboxusercontent.com/u/4899609/gold27thaug.png

Gutted at the level i mentioned was actually about half a point wrong...dohhhh
The actual level to place a short on the first attempt was meant to be 1423.16
So my 1424 that i roughly estimated messed my trade up...did not enter
That would teach me to have a quick look.
I missed the trade by half a point....would have made a nice profit...


dl.dropboxusercontent.com/u/4899609/gold27thaug1.png

Remo,

Gold does look like making higher lows - which is bullish no?

Let's see if there are buyers in ASIA on the back of the 1424 attempt.

Cheers!

Libero wrote: Remo,

Gold does look like making higher lows - which is bullish no?

Let's see if there are buyers in ASIA on the back of the 1424 attempt.

Cheers!

Hi libero
I wont short there again as it was a first attempt trade and thats done now. If it goes back upto 1424 then likely to breakout
Gold is bullish and if 1424 gets taken out then this should head towards the main down trend line which is currently at 1519

Im a short term trader so bear that in mind when ever i write some thing

forgot to mention that the 1424 was a comment based on a earlier target from an earlier post. Hence why i mentioned the level. so that would have been the level to take some profits if you were long already.
gold still has a lot more to go in my opinion especially with all thats going on

Back on the radar....



Is there a Golden Cross coming? Watch this space


Meanwhile, for those who like to "Flip the chart upside down" (remember those days?), this is gold (upside down):

Gold is approaching strong support soon at 1348.
This level has 2 important supports together.
The trend line and the breakout point just so
happens to be in the same area ,give or take 1 points tomorrow.


dl.dropboxusercontent.com/u/4899609/gold5thsept.png

This level is what a trader with patience looks for
Ive got my order in at 1348 with a 15 point stop on a first attempt basis. I would have gone
for a bigger stop but have a large position ready to activate This is my gambling trade
as im hoping that the bounce would be strong due to 2 levels of support so am not expecting this level to breach by to much.
Ive taken the extra gamble due to my winnings from the previous trade on gold as can be seen from my previous posts on gold