Gold

Libero wrote:

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..

Beautiful call Remo, and great call on the S&P too.


There you go bringing back memories of the excellent calls made on the ol' XTA board!

I do miss the good old days on the xta board
It seems a long time ago ....Or is it me getting old very quickly

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..

Beautiful call Remo, and great call on the S&P too.


There you go bringing back memories of the excellent calls made on the ol' XTA board!

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..

Long from 1244.96
Stop=1230
Limit Target= 1324

May add if 1267.80 goes.

Come on the bulls, now's the time to push this north!

Im going to add to my longs from earlier today at 1268 did not post as based on hourly chart and entered earlier....

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

A finish above this would be the signal for a short term rally...Possibly a 123 low as redchilly mentioned.


dl.dropboxusercontent.com/u/4899609/gold9thjuly.png

Hi RC,

I was looking at Gold last night and for the last week.



I think it is heading towards the LONG LONG term 50% fib retracement area in the short term (maybe even further, there is an oblique long term support - blue line - also to consider)



There is, as you have indicated, a potential 1,2,3 breakout on the daily chart, however it may not be a great move up, and if you choose to go long, I would perhaps take some off @ 1330/1335 which is the previous support & 38.2% long term fib mark. It is also within the oblique channel range.

Just something to consider if you choose to go long.

I think I will opt to go short in around the 1330/1335 area, and, depending on price action, go long @ the 50% fib area.