Gold

not much air below 1617 - watch that area

Amo wrote:

Amo wrote: I've gone long on this at 1626 with a very tight stop just under 1625. See if it holds.

It guess it didn't hold

RIP Gold

WaveSurfer wrote: not much air below 1617 - watch that area

Amo wrote:

Amo wrote: I've gone long on this at 1626 with a very tight stop just under 1625. See if it holds.

It guess it didn't hold

It does look like it go well down now.

need a close below 17, its big number for gold or back up, let the bull n bear fight it out here.

Well, I'm frazzled by this move



I've had a go at plotting (yet) another trend-line, but I reckon this commodity can be exempt from T/A sometimes (I'd even dare to suggest that this market has been cornered - but like I said, I'm "frazzled"! )

The circle legends:
blue - "clear touch"
yellow - "close enough"

I'd end this post with a "DYOR", but quite frankly you'd be mad to take on any trading advice from me!

p.s. there is an upside to the gold downward move (no, not a macro economic one), but it means that we can perhaps start to accumulate some long term non-fiat assets.

p.p.s News related: I think I read that Soros is selling off some Gold Funds which might have been a catalyst for the drop.

Scene of the crime 02 Aug 11 opening candle

WaveSurfer wrote: need a close below 17, its big number for gold or back up, let the bull n bear fight it out here.