TradeApe
Short

Gold Short Term Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
82 1 3
Well, yesterday my short term bias was long, but never materialised today. Never entered a trade today and that weird spike up just didn't seem "right". Overall, DI- dominated which suggest the bears have been in charge. Will probably bump into 1200 a few more times before taking off.

Interesting "fake spike" down this afternoon...guess a lot of people throught it was a breakout. I missed it, so got lucky...would have likely hopped in :/

My line in the sand (LITS) has now shifted to 1203.5. Above only longs, below only shorts. Basically, I'm now only after shorting opportunities.

One thing to note: If you check out my H4 analysis, you will see the run at 1225 seems to have failed and price is now BELOW the H4 cloud. That's a pretty strong bearish signal.
Even the news couldn't mess with my bias :)
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