This is what i am thinking too. Now it is too easy to charge long positions on the 1340-70 zone. They will not leave us to do this. Also they will not leave the shorts get out. All must be burnt. So we go almost straight to 1500-1530. In 2008 after the breakout it surged around 20%. It is impressive that if you take the 1370 breakout +20% it gives us 1500+.After the short will start...many will try to be in again at meaningful supports but the price will loose every support exposing the new longs or the old longs that hold positions. It will continue going down at least near 1380 zone and we may have a scary undercut around 1280 as you suggest in your chart. By this time all the longs will be burnt again and people will start to think the chart is damaged. And after that the REAL move will start which will bring us to 3000...
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FrozenAutumn
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fantastic analysis
Asezamsutu
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Is the trade active?
codyh14
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@Asezamsutu, oh yea its active, i posted a swing trade about gold a while ago. i enetered at 1207 and im holding till 1300. this idea wasnt mean to be that but i have a swing trade idea on gold already up
golden88
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are you peter scieff
codyh14
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@golden88, nah why. im just basing off history. is something incorrect
golden88
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@codyh14, can you predict todays move where we heading ?