转发----Gold: Short Term down move possible

tauruscat

Gold: Short Term down move possible            PDF           Print           E-mail
Written by King Of Gold   
Monday, 02 June 2008 08:08 am GMT

    * Market commentary:

Spot Gold headed lower in ASIAN session due to low buying interest on a heavy data week. Traders are cautious in taking positions ahead of big US economic datas. Expect weakness for the day.



    * Technical analysis:

Spot Gold count suggests that there could be a wave 5 or wave 2 decline. If it is a wave 2 decline then gold will not break 870. However if it is a wave 5 decline then it would head below 870 and target 865. RSI turned down from resistance and should approach support.



    * Strategy:

   1. Short at 884~886
   2. Stops > 890
   3. Target 880 or 865
   4. Use trail stops to extract maximum profit.



    * Trail stops:



   1. Move stops to 884~886 on break below 881
   2. Move stops to 882 on break below 880
   3. Move stops to 880 on break below 878
   4. Move stops to 878 on break below 874
   5. Move stops to 875 on break below 870
   6. Move stops to 872 on break below 868



    * Risk Management:

Risk Reward Ratio is favourable

• Trend:

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

煩耳菜功

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kwy

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tauruscat

Gold :Exit Signal            PDF           Print           E-mail
Written by King Of Gold   
Monday, 02 June 2008 08:48 am GMT

Exit Signal for Gold.

There is a minor change in count hence exit all shorts for gold around breakeven point.

Strategy:

1. Flat at the moment.

kwy

Thanks again~~

material

Thanky !