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GOLD $GLD 02 Dec 2010

by Gav Leave a Comment

Here is the GOLD chart that I am looking at.  I see confluence of resistance level, channel, Fib levels, and harmonic formation.

I am keen to watch 1400 before deciding if to go short.

[tab: Initial Setup]
Here is the chart…… to confuse you.

$GLD bearish harmonic setup

[tab: Update 05 December 2010]

The initial bearish harmonic setup was invalidated after NFP announcement. GOLD fired through 1400 level. At the Friday close, I observed another bearish harmonic formation. The formation will be invalidated again if ‘X’ is violated.

Here is another chart….to CONFUSE you.

$GLD GOLD Bearish Harmonic setup

Filed Under: Harmonic setups, Trading Journal Tagged With: ABCD, Bearish Gartley, FX, Gold, Trading Journal

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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