LeoTran
With great bounces yesterday at the 0.691 - 0.693 level gave me a little more confident with the upside till the end of this week. Yesterday, I personally was thinking it might break through that lower level and went even lower but that support level held and bounced back up so even though the longterm projection for AUDUSD is downtrend, all I can focus on now is...
What I like about GOLD at this point now is continuously experiencing lower LOWS and lower HIGHS .... I am expecting another downward movement to a lower LOW ! My expectation is lower than 1081 - 1079 level as once this level break then we can hope to go lower since many other traders will switch to the SHORT side.... I am trying to be a bit earlier ....
Small Stop Good potential gain I found AUD and AUX (GOLD) is going opposite directions.... Will update more later....
I think in the next 5-6 hours GOLD will pull back a bit and will explode again when LONDON & NEW YORK open.... However, I think GOLD will go lower as the 1,100 is the major barrier and I think there will be a major sell off / take profit at this level.... This is mainly my speculation and I think the possibility is below 10%... Enter with stop carefully placed....
1. Small Stop 2. Potential Gain 3. Re-buy / Take profit at consolidation and ... 4. If ABC-D fully realized then get the hell out and thinking SHORT at D