转发-----Minor correction due but targetting 950

tauruscat

Sunday, 25 May 2008 10:00 am GMT
•        Market commentary:
Spot Gold Medium Term up trend has been validated from the falling wedge breakout and looks set for a quick rally to challenge 945~950 region after a minor pullback. Technical and physical buying has supported the market all along. Rising crude oil and a weak dollar adds to the bullishness as investors have finally start to believe that this is the move that will take gold to new highs instead of lows. Heavy Buy orders situated at 905~910 and 900.
Technical analysis:
Spot gold rose significantly from the downward wedge breakout. One more upmove is expected before spot gold is sent into multi-week consolidation. Expect a downmove on Monday~Tuesday(bottom forming days) followed by a swift upmove beginning from late tuesday~early Friday(GMT TIME). A pullback to 905~910 should be bought against 883.

•        Strategy:
1.        Long at 905~910
3.        Target 945~950
4.        Use trail stops to protect profit. Exit at Target.

•        Trail stops:

1.        Move stops to 905~910 on break above 920
2.        Move stops to 920 on break above 935
3.        Move stops to 930 on break above 940

•        Risk Management:
Risk Reward Ratio is favourable (1 : 1.5)

•        Trend:


Time period        Direction        Comments
1 day         Down         
1 week         Up         
1 month         Sideways up        Bullish since May 15 , 878
1 year         Up         Bullish since Aug 07 670.

kwy

Thanks~~

BC1410

Thanks

掘金人

不錯 ，多謝~

JKL

原帖由 tauruscat 於 2008-5-26 09:26 AM 發表
Sunday, 25 May 2008 10:00 am GMT
•        Market commentary:
Spot Gold Medium Term up trend has been validated from the falling wedge breakout and looks set for a quick rally to challenge 94 ...

thanks

悠然而生

Thanks for your post!

tauruscat

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