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I agree but that could be at 750

Todays price action is painful. Too volatile for me.

You are spot on Matt. Really no way the mkts should of sold off yesterday on that agreement. It shows the mkt is sick. So with the disappointment of the Fed and that, the market is telegraphing that it wants to go lower.

Short 228.23 st 229.3 tp 225.3

Between 1-2 standard lots.

+250 pips. Looking to sell bounces here.

Tell me mrfrank. How did you develop your system? Just based on hours of observation or are their other areas to focus on?

Yes the 2:1 thing is tough to stick too, but thats what my system suggests. I think we'll move down as the equity mkt and sterling look toppy. I hate these 300 pip down one day, 300pip up the next markets.

+6 pips. Changed my viewpoint. Going short. Mkt has been a but disappointing since the initial excitement worn off. Short 229.95 tp 227.5 st 231.

I agree. Was stupid to bail yesterday. Looking to buy a pullback here.

long 229.84 tp 233, st 227.5

Bernanke (To goldman): buy out the money december puts on thursday night with 1480 expiry Goldman: ok done. Bernnanke: (2 hours later): buy dec 1530 calls. Flat the 1480s. Goldman: Done. Seems plausible.

With the timing of these annoucements you have to think of private societies & secret handshakes.

Year highs coming

Out at 228. -86 pips. Rather disconcerting the £/$ jumped 100+pips in the last 15 minutes to knock me out. Massive quick news, not sure what caused that.

Welcome Matt to the forum. How successful have you been with your methods so far? Dont you find a lot of noise on short time frames?

multiple time frames, no lower than 1 hour. Short 227.15 tp 225 st 228

You could be right. But I expect the dollar to strengthen here, and equities to drift. So I think these reasons will make gold fall in the short term.

Got out today at 805. Just think there is more downside than upside at present. Will look to buy if it falls a lot lower.

You still short?