Wednesday 6 June 2012

Gold looks like selling off today

I am back at work after 2 days holiday and feeling refreshed.

Time is now 13:54 BST and I noticed unusually large volume on the 5 min GC chart at 09:00 this morning. This is the highest 5 min volume since NFP day. We have also had an Upthrust on high volume in the last hour so, I am looking for a pullback to short. Probably around the 1640 level. As usual , I will need to watch price action rather than just blindly taking a trade.



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