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Long

My Revised Gold Call

FX:XAUUSD   Gold/U.S. Dollar
A couple of weeks ago, I published an idea in which I was bearish on gold             . However, gold             has refused to fall. In fact, the dollar has fallen sharply and gold             is acting as if it is being absorbed for a higher rise. Of course, I'd like to see gold             take out 1375 before I get too bullish but as of now, this is no market to bearish of. Probably the best move for the time being is to sit on your hands and wait for gold             to break out.

If I had to do make my initial call over again, I'd say the exact same thing still because the price behavior that was being shown by gold             at the time is usually indicative of a topping market. Gold's current price behavior is something that I've seen countless times on intraday charts and it indicates that gold             is about to spike up sharply.

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