dewpoint
Short

Gold - Shorting opportunity

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
106 2 10
Given market reversals it looks like Gold             may be losing it's shine, just for the short term though, by short term i mean months, unless of course we have a major world incident. The smart money is heavily shorting gold             retail investors are buying, hence todays             drop. Next week i'm looking at the trend line to be yet again be breached and then a follow through to the downside.
I'm looking at sub 1200 area,1170 offers major support.
Nice call hope you caught some of that action :)
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dewpoint showmethepips
Thanks, sure did i've been scaling in right up to the 1247 level. If we see a market reversal to the upside with the S&P then gold should tank. Good trading.
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