Of Gold Extensions مقياس إمتدادات الذهب
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Here's the WSJ article:http://online.wsj.com/article/SB10001424052748704307404576080222812076888.html
My take, everything in Libya, and other protesting regions need to calm down before traders stop seeking the safe haven of the CHF. But then again, can this keep falling??? I sure hope not! Stop level at 92.00
Threw in the towel and went long USD/CHF - hoping for a triple bottom, bitter SNB, and a broad rebound in the USD. In retrospect, USD should have been bought against something else - but sometimes it's fun to play with fire when you know you can put it out at some point.
I presume the market is NOT expecting a rate increase from BOC on July 20th? Any thoughts on where this pair is going, along with time-frames. Thanks? I've been doing very well with your IMT's and tweets. Much appreciated!