EliteTrader101

GLD Trend continuation

Short
AMEX:GLD   SPDR GOLD TRUST
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2
After 3 pushes up, all the retail traders were all excited because i have a retail trader friend who wanted to buy. They also tricked the shorts into buying to cover at the top to provide liquidity for the big boys selling. I know this because the next bar was down instead of up, plus all the buying volume dried up before gapping down. I am expecting the downtrend to continue all of next year as the US dollar rallies and equities continue the strong uptrend.

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