Tuesday, July 14, 2009

GOLD MOVES UP THROUGH THE SELL ORDERS BUT DOESN'T MANAGE TO SPIKE HIGHER

Often, gold will spike through a large number of sell orders and spike higher
Gold is very caustious here coming into the Crimex open.
Gold could spike quickly on, or before, the open, only to collapse on profit taking
immediately. Or, it could sell off before, or on, the open.
It's up to the manipulators which way the allow it to move.
I only trade the precipitous drops by buying the bottoms of them and selling the quick rally
when it stalls on the run up or hits a know stopping point, like a 75% retrace point
or a previous high.