07 March 2013

Gold : Sell Stop-in < $1564

  • Corollary of the earlier post today on USDX. Is one and the same trade.
  • A close below 1564 will suffice to get me short. Never mind the various intra-week spike lows. Add to short if we take them out (1522).
  • Calls such as these are pretty much useless for trading. If Rosenberg and Faber are right, technical traders can still catch the moves when the upper triangle line (near 1750) breaks. Meanwhile you will have avoided the stress of being long while it's dumping.

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