21 June 2011

Gold : Cross View

  • vs USD : Uptrend. Am wary of possibility of going into a triangle consolidation, which would be very trying indeed.
  • vs EUR : Uptrend. But we better break out on top (above 1076) soon or this might turn out to be top of a big range, at least temporarily.
  • vs GBP : 1 way uptrend. No question.
  • vs JPY : Triangle consolidation. Buy breakout.
  • Trade : 1. +Gold/-GBP best.  2. +Gold/-JPY good as well but wait for it to break out of triangle. [This suggests that GBP weakest].
  • Position : Only +Gold/-USD here. Not time to deviate from "Simple" when things not going well.

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