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#1
Gold -Short situation.

Gold ,yesterday was volatile and played in both direction with high of 1068$ and Low of 1044.Close 1065.

$1070-75 range is resistance for gold.Short Gold in current position keeping Stop Loss of $1077.
Down side target is 1044,1025. May on monday and tuesday the gold can move up, But downside remains more. Or wait those who dont want to take risk, till tuesday noon,and then take the decision.
 

aditya14

Well-Known Member
#2
Re: Gold -Short situation.

Gold ,yesterday was volatile and played in both direction with high of 1068$ and Low of 1044.Close 1065.

$1070-75 range is resistance for gold.Short Gold in current position keeping Stop Loss of $1077.
Down side target is 1044,1025. May on monday and tuesday the gold can move up, But downside remains more. Or wait those who dont want to take risk, till tuesday noon,and then take the decision.
I have shorted and yes it will fall after some technical bounce which has already half finished(1044 to 1066).Daily does have some more room for falling.
 

findvikas

Well-Known Member
#3
Re: Gold -Short situation.

Gold ,yesterday was volatile and played in both direction with high of 1068$ and Low of 1044.Close 1065.

$1070-75 range is resistance for gold.Short Gold in current position keeping Stop Loss of $1077.
Down side target is 1044,1025. May on monday and tuesday the gold can move up, But downside remains more. Or wait those who dont want to take risk, till tuesday noon,and then take the decision.
I got a bullish view on gold for a very short term... may be couple of days to weeks

http://www.traderji.com/day-trading/36303-bulls-bears-lion-42.html#post409291
 
#6
Re: Gold -Short situation.

Cautious approch need for GOLD. EUR/USD is volatile and moving both sides with volatality in stocks.

Other factor emerging is the Sanctions on IRAN.GAtes want to implement sanctions fast. If this happens GOLD will go UP ,so please take proper steps.
 

findvikas

Well-Known Member
#7
Re: Gold -Short situation.

I dont know about the news but certainly gold is looking for a rally... its counter part is going as expected.. USD correcting

this is what I said on 5th Feb about USD just before the NFP numbers



and this is how it looks today...

 
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findvikas

Well-Known Member
#9
Re: Gold -Short situation.

because of technical pattern which is suggesting /DX for a correction up to $75.5-76 which is the level of around 11th December 09 where Gold was at absolute peak. Also I have technical pattern indicating that kind of levels.

/DX did corrected all the way till $79.63 from $80.50 where I said it will correct and get back into channel... indeed in closed yesterday back in channel and same thing happened with Gold

 
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