Gold

I've taken a very small and risky counter-trend long on this today. I'm sure it's going lower but I reckon we've had a wave 3 down and it's bounced perfectly off the 161.8% Fib extension of the wave 1 move down from 1795 to 1672:



dl.dropbox.com/u/20815047/Golddaily21_02_13.gif

Target is c. 1625 but if it goes my way I'll close below that, perhape c. 1600 and then look to short for a 5th wave down.

www.thegoldandoilguy.com/downloads/GSNLTS.pdf

no issues - was short and got a good ride down, im sure there will be another opp to reload the shorts again

im going long on a first attempt basis at 1522 with a 10 point stop.
This is for a bounce trade only and will be for a very short term trade.
Gold is in a down trend now as its really bearish.
good old death cross yesterday
hope people have made good money on the short side

Good to be right side of a move like this.. However will it stop at 1525?

dl.dropbox.com/u/43650856/Gold%20-%2020th%20Feb.htm

Is it a buy at or near 1525, on the first touch ofcourse.

Your bounce to 1617 is looking a looooooooong way off now WS lol!

$1525 here we come!