Short strategy on Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
611 5 0
The market has just hit a significant resistance line ( bearish line R1) which has not been breached for over a year. Additionally the Stochastic is indicating the short-term market is over-valued. The 100 MA can also be considered a resistance line. The fed's announcement will either trigger the stop or send gold             toward testing $1270 again.
about the stops, they tried a customary early hours raid in thin market conditions early this am with 10,000 at market sell order on COMEX that hit the price $13 but it went no lower, artificial paper supply has all been bought up! zoom out and you will see an inverted head and shoulders you are selling into. Good luck ! Another COMEX pit close above 50 day SMA and add to that a Fed announcement of an extra $10 billion in stimulus will have the short scrambling. Prospect of $1560 gold should make your knees tremble.
Jovi MRS Watanabe
Thanks for your feedback Mrs Watanabe
Yeah, Agree. It's shorting time. Earlier, my 02 trades got hit SL . Not this time for sure
Jovi Ryan Tyler
Thanks for your feedback Ryan
Yeah it's going down slowly
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