Technical Analysis of Gold

Quote from Masterchanger:

This is just a technical day trade not a long term postion trade based on fundamentals but the continued strengthening of the DX is supportive of my short position. I believe as long as the DX rallies that gold will be under pressure. I believe that weekly support around 1075 level will be retested, not saying when though.
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and the next day intermediate support is broken hmmm.....

next support is 1028 level and 986 level
 

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Quote from dangerkitty:


The pattern is long commercials over 50% with oversold stochastics in an uptrending market. For discussion let's say we go long if we take out the high of the first down close day we get.
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For what it's worth, we never got an entry, you know, for the record and sake of discussion. I don't have back testing capabilities, it would be interesting to see what using a filter such as the dollar trend would do to the results. Take short signals when dollar trend is up, long signals when dollar is in an downtrend.
 
Quote from trackstar:

Should have followed my intuition :p

Late to post so take it for what its worth. Reversed at 1104 in the overnight. Stop is now at todays HOD. 1112.50.

Target 980.
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Stop moved down to 1075. Target adjusted to 990.00
 
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