Daily Trading Strategies on Gold/Forex

it would have been stopped out by now.

current price: 590
directional bias: none
action: none

 

what a move that was - from 586.50 market jumped 4 dollars in 30 seconds....nice

 

yes, it was really quick. i posted my call to go long @ 591 at kitco web site as i didn't have time to post here.

 

i think gold would continue to rally and could reach as high as 605~607.

 

I think the late late selloff was overdone

in gold ... maybe asia will try to gun some stops to the downside
but then there should be a bounce

( esp if some of the
other markets with a high correlation to gold are moving higher )

 

current price: 593
directional bias: slightly bearish
action: none

 

current price: 605
directional bias: bullish
action: short @ 605, sotploss@608

 

gold is very bullish and i just expect a slight pull back.

600~598 will be a very strong support and 610~612 would be a resistance.

gt

 

current price: 603.5
action: hold short, stop@605.5

 

exit short @ 603