If the weakness continues we may have a great setup for a short play. I'll be watching 98.65 and the March 12th low for further confirmation. Depending on how it plays out with my indicators I may find myself shorting in the near future. I'll consider a long position on a move above 105.
XAU weakness
Started by
The_Gold_Miner
, Mar 24 2004 10:07 PM
3 replies to this topic
#2
teki
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- Traders-Talk User
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Posted 24 March 2004 - 10:16 PM
Nice move getting out near yesterday's highs. I agree with the 98.65 being key here. So far we've filled that gap, but going under it should have bearish implications. I'm staying long for now, but getting more nervous. Read your Gold Miner site frequently - its good stuff, thanks for sharing.
#4
PMILLY
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- Traders-Talk User
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Posted 25 March 2004 - 08:19 AM
GM,
Thinking the same thing. Almost shorted yesterday and looking for a medium term set up. On the other hand, we could have a little rally back up just above the highs of last week, maybe 103 or in that area, and then drop harder from there. To me, it still seems a little confusing in here. May try a short term trade long today if we do not fill the gap.
Pmilly
