FX:XAUUSD   Gold Spot / U.S. Dollar
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I have an advice for anyone still hold LONG position of GOLD : close it.

No chance for you.

The trend of Gold is still DOWNTREND.

Look at on the chart: GOLD met a lot of strong resistances: SMA200+EMA50, Two trend lines . Fibonacci retracement levels + Fibonacci Fan levels. I still not count Kumo cloud of Ichimoku pattern and even Gann Square Nine levels.

Moreover, The FED Interest Rate Decision on Wednesday would have a significant impact on Gold price. I surely the decision would weight on GOLD .

I expect Gold would be down to 1268 level I show on the chart.
who wants to protect the LONG position more ?.

Now the reality proves I was right. GOLD fell further and further.
PAGuy Sforex
It went up though. I don't do position or swing trading. I take profit at calculated levels, which in this case where hit after my order was triggered. #BOSSED
Hit TP 1, 2 and 3, holding long term position. Told you it was going up :)
I'm thinking gold may bounce on your 50% fib and continue the ascending triangle pattern and head back up to 1303. I don't think the Fed can hold Gold down for too much longer.
Yeah, they LONG gold while GOLD Funds are decreasing their reserve , the gold demand of China and India is falling down, and FED will not stop unwinding QE3 ??????.
darth Sforex
you know the market movers, smart money, institutional bankers what ever name you call the them use the news as a tool to manipulate the market so they can push the market in there direction quickly without all the small guys going WTF just happened?! then they see a news event just happened and they can go "ahh ok it was the news" but really it was the big boys making a quick buck. Tech analysis cuts the BS if you know how to trade it right.
PAGuy darth
Proper order! We know our stuff! Lets BANK this week ;)
Sforex darth
Have you ever learned about Crowd Behavior and Dynamic of Price ???.

You favor TA just because you cann't understand Macro economy , cann't understand Fundamental.

to be good at TA, very easy, Google, you get everything. two or three months, you be an expert in TA, but to be expert in FA, not easy.

You choose the easiest way. Most traders follow that way.
darth Sforex
Why complicate and already complex system??? trading can be simple when you know how, trading news it just looking for justification in movement when there is none. And yeah people move the market but really its the smart money making you think you can
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