Gold

closed my short and went long and now have a free bet as such....lol

WaveSurfer wrote: Im a dip buyer on Gold

here's a bigger pic view

dl.dropbox.com/u/40497882/Gold_HNS.jpg

cup and handle formation

That will be nice.
thanks for that did not see that.

Im a dip buyer on Gold

here's a bigger pic view

dl.dropbox.com/u/40497882/Gold_HNS.jpg

Thanks guys. I've been having a look at a posible wave count for the move up from the May 16 low at 1527 and I can see where you're coming from. Is this how you see it?



dl.dropbox.com/u/20815047/Goldwavecount14_11_12.gif

That would have the top of wave (3) way past the 161.8% extension but that's not necessarily a problem and may account for the relative severity of wave (4). It might also lead towards a truncated 5th...

There does appear to be some decent support in the 1700 to 1705 area so it makes sense to target that I guess.

Good luck fellas!

im short on this from 1735 but am still looking to go long at the fibs. im looking at the 50% fib area at 1705 to go long.
The reason being it broke out of the short term down trend and then moved higher with a higher high so now looking for a retrace so that it sets up for a 123 low breakout. So trying to get in early by using a fib level.
Stops will be below the recent low.

dyor

I am short gold, looking short term for 1700. KI.