Good Occasion If Something Corrrelated Wont Raise.
THE PULL BACK WAS DUE TO SOMETHING ELSE, SO WATCH GOLD SLIDE SINCE COULD BE HEADED TO 610 USD OZ.
probably we should wait a little before spell a buy.
this is what I mean: thanks to DT.
- IQuestion: why not taken a straight position on GC on DB?
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- First I want to see EURO down and Dollar UP.I do not trust this divergence.
- divergence could be there and still having gold south, but better be sure certain structure are well and defined.
DT gives you both the chances: scalp (in view of a longer slide ?) or ...
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As a matter of fact -
!!!
seems we are at the right moment to sell
once more. Wait for the pull back.
suffer a bit, its all in Euro
Target was 661. GExit hjas ben earlier since whole picture is not so clear. We harvest 4 USD though . Not many, but better than a kick in the ankles
too early ? yes, but couldn't care less. Following your hindsight will save you losses 7 times out of ten.
If you have an hindsight , indeed.
hold it, nice setup in sight.
otherwise pullback up is likely over and the tgt is clearly indicated on chart
seems -again- we were not wrong at all...
Ps: at least for the first swing up, let's see the floor
Ask you why GC hasn't topped at Euro max.
GC +SI are 100pct positively correlated with Euro : ça va sans dire they are negatively correlated with DX (DXC USD index Futures)
- 2004-2005 GC was as strong as Euro. By and large
- 2006 GC was as strong or stronger than Euro by a (+n) factor
- 2007 is the opposite, having a (-n) factor
- As long as Euro ranges GC will ranges , sliding a bit.
In plain words, it is accumulating "energy", not sure the direction towards will be released but I believe it wont be North .
Structure appears "sound" and clear from DT , that only short terms long/short positions are advisable.
Always possibility , never certainity.
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Gold @ 556 usd oz?
unexpected event?
not so much, Imho.
For GC, once below 627 and 600 the tgt is very realistic.