Gold Running

Gold broke to new highs yesterday as the dollar followed through to the downside.   This morning we are seeing some retracement of that move, which is a perfect set up.

Of course, if the dollar builds on this move to wipe out $83.40 and then goes higher, the trade is off and we wait again.  But I will be expecting the Pivot to hold resistance 82.35 and continue lower.  As it does, Gold should run and should Silver.

In fact, they are holding up very well this AM after the Japanese intervention news – which historically doesn’t work for long.  We’ll see.

Trade the extremes!


About thefront9

Independent trader with a flexible approach to the markets. Position trading, swing trading and day trading using Futures, Equities and Options. This site is intended to help others (and myself) see what I see and to stay true to the discipline of making trades at the extremes. Contrarian and TastyTrade addict! Living in Texas with my family, helping others and maybe playing some golf from time to time makes life busy and great. Add a little music and humor and that just about sums it up. Trade the extremes and manage risk.....always!
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