Monday, August 22, 2011

Gold trading over 1900

Gold has become parabolic here, and is due for a correction. Stepping in front of this freight train is not a prudent business plan, but watching for a reversal candle and a momentum divergence could set up a nice trade.

It may or may not get to $2000, but its stretched enough here to start watching for a signal. Stay patient, but alert, as an opportunity for a quick move to the downside could come sooner than later.


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