AndyM
Short

No new highs in Gold in near term.

FX:XAUUSD   Gold / U.S. Dollar
385 2 12
Hi All,
Here are my thought on Gold             . I'm currently short and here's the reasoning - some notes are on the chart.
I basically revert to my original labeling: we have a completed impulse, I don't see a triangle any more, so we are in for a deep C wave.
If that's the case, my GLD puts will pay.
Either way, I'm ready to go long when safe.
Looks good.
Cheers!
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Options are not good for Gold. The payout is miserable because of implied vol.
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