转发---Gold: Bearish Trend prevails

tauruscat

Gold: Bearish Trend prevails            
Wednesday, 28 May 2008 07:28 pm GMT

    * Market commentary:

Spot Gold recovered from recent lows are traders who were short covered their positions. However weakness should continue as spot gold is down for two consecutive days. Sentiment has started to turn bearish as traders get the doubt whether 845 was the bottom or not.

    * Technical analysis:

Spot Gold elliott wave count suggest accelerated decline towards 860~875. RSI is still trapped in a bearish channel and do not expect much strength from here unless 910.7 is broken above.



    * Strategy:

   1. Short at 901~905
   2. Stops > 910.7
   3. Target below 888
   4. Use trail stops to extract maximum profit



    * Trail stops:



   1. Move stops to 902 on break below 898
   2. Move stops to 900 on break below 895
   3. Move stops to 895 on break below 890
   4. Move stops to 892 on break below 888
   5. Move stops to 889 on break below 883



    * Risk Management:

Risk Reward Ratio is favourable



    * Trend:

Time period	Direction	Comments
1 day	Down
1 week	Down
1 month	Down
1 year	Up

kwy

Thanks~~

一切因你而美

Thanks

煩耳菜功

跌下去........

JKL

原帖由 tauruscat 於 2008-5-29 09:19 AM 發表
Gold: Bearish Trend prevails            
Wednesday, 28 May 2008 07:28 pm GMT

    * Market commentary:

Spot Gold recovered from recent lows are traders who were short covered their positio ...

thanks

iamhp

看不懂,英文太差

RAF

thanks

circleclock

thanks