Gold had a huge move to upside today making all time high. Since Gold started moving from 680 level, I only caught one 10 pt move. I've been just a dick for a tick waiting for a perfect entry. The upside targets are 880 level and 907 level. At this point, I would wait for a pullback to 840 level which is 8 EMA.
Curde oil finally hit $100 today. If you have been watching gold and oil long enough, they tend to follow each other. Why? Rising oil indicates inflation and inflation means our currency is dropping and gold is appreciating. Just like gold, 127% is a slam dunk and will likely test 161% fibb level. The perfect entry would be 97 level.
2 comments:
Good stuff man. Your story sounds very familiar. Show me the money.
Hey booster, thanks for stopping by. P/L tells everything about a trader. I'll try my best and good luck to you too in 2008.
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