Gold: Gold resumes major correction

tauruscat

Gold: Gold resumes major correction

Wednesday, 28 May 2008 09:12 am GMT

    * Market commentary:

Spot gold broke down considerably after hitting our target region(buy strategy). Our strategy was correct however the turn was not posted due to uncertainity. Gold looks to have resumedits major down move. Expect weakness as big traders and banks have resumed selling.

    * Technical analysis:

Spot Gold count suggest more downside. Expect more declines ahead. RSI is heavily oversold but go more oversold from here.



    * Strategy:

   1. Short at 894~897
   2. Stops > 900
   3. Target 880 and below
   4. Use trail stops



    * Trail stops:



   1. Move stops to 890 on break below 887
   2. Move stops to 888 on break below 883
   3. Move stops to 883 on break below 878
   4. Move stops to 880 on break below 872



    * Risk Management:

Risk Reward Ratio favourable



    * Trend:

Time period	Direction	Comments
1 day	Down
1 week	Down
1 month	Down	Down since 895, May 28
1 year	Up

煩耳菜功

880是底吧!!!

tauruscat

贴子是转发的,我相信底部是无法确定的吧,只有顺势而为咯!

material

JKL

原帖由 tauruscat 於 2008-5-28 05:33 PM 發表
Gold: Gold resumes major correction

Wednesday, 28 May 2008 09:12 am GMT

    * Market commentary:

Spot gold broke down considerably after hitting our target region(buy strategy). Our st ...

thanks

kwy

Thanks~~

莆田人

blue1

thx!

laojian