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tauruscat

Gold: Short term bottom could be nearing            
Friday, 30 May 2008 07:18 am GMT

    * Market commentary:

Spot gold was in consolidation mode for most of the ASIAN session. Traders are cautious for any weekend profit taking.



    * Technical analysis:

Spot gold has comepleted its 5 down pattern from wave 2 peak. Expect wave 4 consolidation from here. RSI has bounced from lower channel line(bullish for now)



    * Strategy:

   1. Long between 870~873
   2. Stops < 865
   3. Target 880 and above
   4. Use trail stops



    * Trail stops:



   1. Move stops to 870~871 on break above 875
   2. Move stops to 875 on break above 878
   3. Move stops to 878 on break above 880
   4. Move stops to 880 on break above 883



    * Risk Management:

Risk Reward Ratio is favourable

• Trend:

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

煩耳菜功

thankyou

JKL

原帖由 tauruscat 於 2008-5-30 04:07 PM 發表
Gold: Short term bottom could be nearing            
Friday, 30 May 2008 07:18 am GMT

    * Market commentary:

Spot gold was in consolidation mode for most of the ASIAN session. Traders a ...

thanks

jac

多&#35874;. 很好的&#36716;&#36148;

三姨媽

謝謝，很好的轉貼。

tauruscat

RAF

thanks