Gold

Amo,

I have learnt that divulging or discussing labels only leads to controversy therefore I now keep things to s bare minimum and do not get involved in such discussions. Save it to say, if this breaks 1322 it should be a move up. Whatever label you want to give it is fine with me

Hi Diver,

Do you have this move up as potential primary wave 1 ?

Thanks
Amo

diver993 wrote:

dl.dropboxusercontent.com/u/7238706/Gold%20Ounce%20USD.png

For me the important level to confirm the uptrend is 1322: a break of this and we have reversed the trend. The target is then between the 50% and 61.8% fibs of the last cycle, and a handy resistance therein would be 1530.

Added final weight at 1270.

Decent bounce from yesterdays breakout point..

Nice confirmation that the bulls are in currently in control of this move.

The weekly chart looks quite promising especially if the bulls can keep this going past 1322.

Still, it's early day's and 1300's hasn't been taken out yet.

It's just retesting the breakout point of 1268.

Bit of a battle going on.

Come on the bulls!

dl.dropboxusercontent.com/u/7238706/Gold%20Ounce%20USD.png

For me the important level to confirm the uptrend is 1322: a break of this and we have reversed the trend. The target is then between the 50% and 61.8% fibs of the last cycle, and a handy resistance therein would be 1530.

remo wrote: This broke out nicely from the 123 low trade during the night...that's the advantage of having an order to open. .this should be a free trade now..

Looking good but would be better once it breaks 1300, today preferably

I have 1324 as a level to bank profit but something tells me it could explode higher towards 1450 over the coming weeks with 1300 acting as a decent level of support. So maybe I'll let the whole trade run instead or bank half at that level. Decisions decisions....

Gold has been sold down massively so maybe the bulls want to some heavy price action northwards whilst the moment of opportunity is there.

I like big moves.