Posts by "nzvik"

rising wedge it does appear to be, though i don't trade that pattern.

trading 1111 now - so definitely rising - but too slowly - some nibbling going on here.

range for the day is under 10 which is normal after we have had 4 days of a $20 range.

looks like it will be a marketmakers day - for most instruments after some big moves yesterday

Pipster,

I am bearish on gold - but currently have no position on it as i am not sure where this is going.

1110 resistance held today - so if you are already short - then i would get out if 1110 is taken out - that is the 50% retracement of this current down move from 1131 to 1088.
The problem is 1110 could be broken and we could trade 1112/15 - and then make the move down towards 1085. The Euro has to go back below 1.35 for gold to start following.

Good luck

downward channel appears broken at this stage on 1h chart - 1095/96 now support

AVG -wouldn't suggest to short now. I bought at 1.5255 so I guess i have a bias.

wait for it to rebound to 1.5350 - then maybe their an opportunity - though i think the bounce back could go as high as 1.55

good luck

doubt we will see 1107 - will short again at 1100. If it reaches 1107 that would kill the current downtrend we have had over the last few days. A temporary low at 1088 would have formed then.