FDNYret
Long

Gold will soar to higher highs.

FX:XAUUSD   Gold / U.S. Dollar
Since last November Gold             has made higher lows, $1130, $1142, $1162 and last week $1168. After the November low of $1130, Gold             rallied to $1307 in January. Since that time Gold             as been consolidating. After the low of $1142 on March 17, Gold             has had 3 higher highs, $1219 on 3/26, $1224 on 4/6 and $1232 on 5/16. I expect Gold             to rally above the last high to $1238. I'm long GLD             $112 calls that expire in the last week of July. I intend to sell a third of them when Gold             hits $1205, another third at $1220 and the last third at $1238. If all goes to plan when I sell the first third, I'll consider exchanging the 112 calls with higher strikes to limit risk. My stop would be at $1162. I am bullish on Gold             this year and expect a rally to exceed the high in January. The coming default by Greece should provide the impetus for a rally in Gold             . When Russia defaulted in August of 1998 gold             rallied 12% over the following 2 months.I expect the stochastic indicator to turn positive this week on the daily chart . Long and Strong Gold             , xauusd            
Thank for sharing your opinion
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FDNYret forexvnn
forexvnn, You are welcome. If you trade stocks also, see my short Facebook posts. I'm long gold and short FB. Good Luck
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