deadbroke
Registered: Oct 2009
Posts: 177 |
11-18-09 02:11 AM
Quote from deadbroke:
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Evaluating my rec - now and later esp if I'm totally wrong and gold goes to $5k. 
the rec 75% TP at 1090 or $1106 expected top would still be shy of the current $1132. So as per the rec you're still in 25%.
If we get a top I'd like to come back to this post and see if there would be that sharp $60-80 drop on reversal.
But in the meantime a 60-min. trendline has made itself available by wave consolidation low along with a 2nd steeper one.
Trendline break exit STOP = $1125.
Dennis Gartman is right to be shit scared to hold Gold without hedging. Don't know what method he uses. Looked like he was shivering on CNBC when asked about Gold's bubble
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Stop remains as-is at $1,125
Before and after on 60-min. ..... since the Stop is not taken out, and gold corrects and goes higher, it gives us an even better = shallower uptrendline. Also visible are the 5 internal waves in the last leg up.
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