Tuesday, December 18, 2012

GOLD Long at 1676

myfxvoyage.blogspot.com GOLD long trade
I went long GOLD at 1676 on touch of support area. 

This support is in place since Aug and it was on my watching radar. 

I was waiting for this setup from past few session. Previous post [here].

This support us basically resistance-turned-support. Previously price has touch this support area and rebounded sharply. 

I am expecting this area to hold and market looks rangy. I opened long at 1676 with stop at 1670.

UPDATE: Even a dead cat can bounce better then that. I closed long trade at BE.

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