Gold, why is that people will kill for gold? Oh – because they can sell it and there is no serial number on [most of] it? Got it, thanks, same old story – money.
Gold (GLD), (/YG) has been a huge winning trade for some here, we spotted it dead on – date and time.
You remember that chart with “weird” interval= 3 days. As for me – whatever gets the job done. Setup Sell 9, Fib Time Series off my “secret anchor point” (not much secret if you see that chart shall I say.
Since we had a hit with 3 days, it makes sense to use it for finding ultimate support and, as you can see on that chart – gray rectangle area is a risk zone of prior sell setup, I just cannot pass on it because coincidentally it is a top of consolidation area, cup&handle, rounded bottom – call it anything you’d like – I think it will provide some cushion least to say. Within that gray area resides current TDST Support as well – around 1034.50.HOW? LOW? WILL? IT? GO?
Next chart up is daily one – surgical precision is the word [on the way it worked out].
Fib 162% off the bottom/top of the base spotted short entry price, Fib Time Series (damn – I am disclosing my trade secrets here!!!) off last known TO WORK TDSequential spotted top, exact top – was really hard to believe.
But… today first TDST Support was hit, 1100.50 AND Fib level 127% as well, so I think that we might expect some retrace, may be to 1125 area…UNLESS it will break down hard tomorrow and so far it does not look likely.
P.S. If, as many of you do, you are bloggers yourselves, you know that the biggest joy for blogger is to see new people coming to their blogs – SPREAD THE WORD :-)
Futures approx. BO
