Monday, January 28, 2013

GOLD Long Trade Coming Gold Triangle Long Trade
GOLD Daily
I am watching this triangle setup from past few session and it also defines the big picture of the GOLD movement. Previous post [here].

Currently price is at lower trendline of the triangle and is bouncing as of now. 

I am looking to go long on touch of lower trendline. This area comes around 1655/52. My stop will be at 1632 for a possible move towards the mid/upper part of the triangle. 

A break of the SL will change the picture to short trade for a possible move aiming for lower horizontal support area at 1530.

UPDATE 28JAN13 18:27GMT: 
I opened long GOLD at 1653 with a stop loss at 1632.

1 comment:

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