After a second wedge in gold with in a short time period, what is the USD pairs to do? Is there another massive leg up from gold in the near future or are we topping off finally?? I think there is another leg up since gold looks like it is forming a very bullish elliot wave pattern. Expect a decent pull back in the near future, probably from the "expected" need of dollar strength by Asian countries. Then a bull run in gold in the end of 2009 and beginning of 2010 when the market becomes suspicious of a real recovery. Gold 1200 may not be a pipe dream. *remember I am a short-term trader/scalper trying to figure out the macro view **in no way should you consider what I post the truth ***oh btw I got the recent 4 hour gold whip between the wedge lines .. short at top cover bottom .. long at bottom close in the middle ****crazy huh, but just playing the wedge
Is there anything more frustrating than a tight ranging market especially with a huge spread in gold???
ok this thread is useless because the gold wedge is finally broken ... I blame Russia for the break down announcing they are selling 20 to 50 tons of gold is kind of weird