XAUUSD : After The Storm (4H Analysis)

FX:XAUUSD   Gold Spot / U.S. Dollar
Dear Traders,

Last week have been very profitable for traders who where long about Gold             . We've started the week with a big selling pressure after a long week-end where people were doubting about gold             overvalue. This strong sell has broken all stop loss tickets. Now that this storm pasted we are able to see more clearly what is going on'on Gold             .
We are actually bouncing on the long uptrend support with a MACD bottoming which give us a strong buy pressure prediction.

In add, after some rumors about gold             electronic price manipulation, a new instance in London is trying to get a "fix" for gold             and silver             price. The new London Gold             Market Fixing Limited organisation is changing price calculation to get the current market rate of contracts for physical delivery of the metal. AFP             said "Some analysts believe however that the market price of gold             , which is driven by investment and jewelry demand, could climb as a result of an overhaul".

Best Regards,
Serge Bonaparte

Damn !
Mirandole Mirandole
Rule number 1 : "Always follow your trading plan"
Too much analyse of the chart lead you to irrational decisions.
Hi All !

Too much resistance at 1308 level. I've closed my gold position.

Best Regards,
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