FX:XAUUSD   Gold/U.S. Dollar
123 10 1
Sell gold             at possible resistance from 1308 to 1312             at breakout of channel
alex.a
3 years ago
GBP.USD missed, right? Didn't come above... But, surely this will work!
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fxtrader66 alex.a
3 years ago
GBp could still come back and pick me up, patience is the key to this trade.
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alex.a
3 years ago
Hoping that it would come up until that line. Perhaps, tomorrow?
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fxtrader66 alex.a
3 years ago
Its right up there now and the FED minutes are 10 mins from now.. will not enter any trade until that is over. There is a good chance this setup will not work.
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isomorph
3 years ago
i don't think so. on daily, gold is going to bounce up... not necessarily exactly from this level, but as long as it doesn't close significantly below the trendline, it's up tp 1360.00.
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fxtrader66 isomorph
3 years ago
I am using copper as a guild to help with direction on gold. Copper broke out of its daily triangle this morning and believe??? it will find support with in its weekly triangle. Gold looks like to me it could retest the daily 61.8 at the oct 2 lows Here's a screen grab for copper http://www.zerohedge.com/news/2013-10-09/interactive-brokers-sincerely-apologizes-hikes-margins-momo-stocks-once-more
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fxtrader66 isomorph
3 years ago
Here's the correct link for copper.
snapshot
Over all I think you could be correct because gold looks like it wants to go higher. A daily break of its upper channel would be a positive sign, although going down to the 61.8 and piercing it just a little intraday could set up a short squeeze that could give gold the energy to rip.
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isomorph fxtrader66
3 years ago
you're right. also, to play devil's advocate, i was wondering what if they do announce taper, then we have a mad scramble out of stocks and into gold... but before that happens, maybe the big guys will want to try to depress gold prices as much as possible and then when they move the money out of stocks and other intstruments, they will start buying gold big time.
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xtrade
3 years ago
very interesting to see what will happen
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xtrade
3 years ago
very intersting to see what will happen
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