06 September 2011

Gold : Speculative Short

  • Prior to making the new historical high at 1920 today, the intra-day low earlier in the day was at 1893. Thus, had entered sell-stop in order at 1893 which is now filled (on SNB EUR/CHF 1.20 floor).
  • Remains to be seen if this sudden reversal (having just broken above previous high of 1911) is enduring. If we do not reclaim 1911 soon, then the false break to new highs has severe negative implications for the health of the parabolic uptrend.
  • Stop loss on short position on a new high above 1920.

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