Is it time now? A look at GOLD ($XAU)

I exited my AUDUSD long position earlier today with small loss. The entry was too early. However, I am still looking to build long positions of AUD, NZD and CAD (by Short USDCAD). Let's see how this strategy works out. Basically, my approach is to test the market, if it does not work out, I run, building another position. No scalping though. OK, I am talking too much now.

I had a look at GOLD. This is another reason I am interested in building long positions of commodities currencies. Well, though this is not the only factor. Take a look at Daily and 4-hr, what do you see? Is it going to break or bounce?

Here is the chart (click to view full chart)

Here are some technical figures:

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Trader Gav — Trackback2010-01-28 14:26:20 UTC

Is it time now? A look at GOLD ($XAU) http://bit.ly/cOVi9o I'm still into AUD, NZD long. Let's see.

Keith Williams — Trackback2010-01-28 17:22:58 UTC

Is it time now? A look at GOLD ($XAU) | Gav's trading blog: I exited my AUDUSD long position earlier today with sm... http://bit.ly/9EnMxV

John Adams — Trackback2010-01-29 01:25:12 UTC

Is it time now? A look at GOLD ($XAU): I exited my AUDUSD long position earlier today with small loss. The entry w... http://bit.ly/au3j1W

Tweets that mention Is it time now? A look at GOLD ($XAU) | Gav's trading blog -- Topsy.com — Pingback2010-01-30 21:13:54 UTC

[...] This post was mentioned on Twitter by Trader Gav and John Adams, Keith Williams. Keith Williams said: Is it time now? A look at GOLD ($XAU) | Gav's trading blog: I exited my AUDUSD long position earlier today with sm... http://bit.ly/9EnMxV [...]

Is it time now? A look at GOLD ($XAU)

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