Thursday 31 May 2012

Today's Gold action

Gold never fails to amaze.  Today we had quite a lot of large swings, the biggest being $21.  Again, these swings end on climax volume on the 5 min chart.  The biggest swing was over very quickly, which seems to me that stops were being taken out on both the longs and shorts.  I had just opened my charts when I saw the big swing unfolding.  Price was going up very fast, then it reversed just as quickly. I expect a lot of traders were trapped on the wrong side today.  There were some good RPM signals today, but it would have been very scary trading GC today.  Good thing I did not trade it.

Here are the charts




No comments:

Post a Comment