Today's Gold Analysis

Well, what a day.  And it appear that my assumption that the consolidation on low volume over the last 5 days was distribution rather than absorption was correct.  You will also notice where the down move ended, was at the fresh demand zone I had identified on the 60 minute chart from yesterday.

My gold trades today were mainly longs, but these were taken before price  had hit the demand zone and I was finished trading by the time it had.  But I was watching the charts at the time and was twitching with my hands hovering over the mouse wanting to take a long trade, but as I did not want to spoil a very good day, I declined the temptation to go long.  Damn, price bounced up $30 from the demand zone. This is just so frustrating. But there will be more opportunities tomorrow.

Here are the charts