karljr94

karljr94

As gold has already rejected the 61.8 fib re-tracement on the 4 hour chart if this rejects again we could see a move to the downside ???

karljr94

back to the trendline then go long again

karljr94

Place sell stop when markets open if Gold breaks support it should reach our target profit.

karljr94

Tested support multiple times and also broken through my trend line LONG BUY

karljr94 Updated 

broken trendline looking to go long

karljr94

WITH THE EURO WEAKENING MID WEEK AND THEN GAINING A TAD BIT OF MOMENTUM TOWARDS THE END OF THE WEEK IT SHOULD RISE ALL THE WAY TO TEST RESISTANCE AGAIN AND THEN EVENTUALLY GO SHORT, AND OF COURSE ON THE RSI ITS HIGHLY OVER BOUGHT ON HOUR 1 AND 4 BUT NOT ON THE DAILY. SO MY FINAL OPINION WILL BE THAT IT WILL GO SHORT WHEN IT REACHES RESISTANCE.