Gold moved down over 160 points against our “X” marks the spot post and tweet last week. Where will it go next?
It has now recovered to around to around 1755 and is pondering what to do next on our “dotted green line”.
Our calculations still show that gold is firmly going down over the next several months and a major break above the “white dotted line” is required to change this opinion and move gold into an “upwards cycle”.
Look for opportunities to increase shorts on the red line – with the lowest risk position being in the red circle (if it gets there).
Those of you who entered at “X marks the spot” should be sensible enough to be able to control your profits and put stops in the correct place just in case the cycle changes upwards.
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