Gold: There Might Be Some Downside In Store

FX:XAUUSD   Gold Spot / U.S. Dollar
110 2 8
Comments on the chart
Comment: Still going to plan at the moment. I am allowing for a move up to 1345 for this trade plan to still be in play.
Comment: downside action idea is playing out so far. If the $index continues to rally the downside will continue
Comment: The $index got a kicking this week and gold pushed up. Final line in the sand for this idea is seriously being tested
Comment: Excellent downmove in progress today. The lesson lere for we traders is that the market is out there to mess with your psyhology I almost gave up on this idea
Comment: Gold price was slammed this week and I expect this move to continue. Dare I say I am looking for 1200 before a setup for a massive upside
Comment: Still looking lower as long as 1366 is intact
Comment: Price is moving down and 1366 is still unbroken so idea is stil in play
usd/jpy is bullish on my side hence gold is bearish
Olu TadeMark
excellent corelation idea. Thanks
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