We have entered the market:
Position: Long Apr Gold on 28/02/2013
Entry: 1577
Stop Loss: 1552
With gold finding support in a strong support zone 1575-1580, we have opened a long position.
1580 is the 61.8% retracement of the recent rally, 1578 is trendline support at the bottom of the down trend channel and 1575 would be the end of Wave C if Wave A = C in the recent ABC decline from 1620.
However, this is again an aggressive trade,
considering the weakness in the market and established down trend
We have placed our stop loss just below the lows for the recent decline -
a break of these lows will suggest a test of 1525.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
