Published on: 11/23/2011 by Nigel B. 179 days ago
In mid-October, Gold broke UP from a sideways line. Over the last couple of days it has retested the breakout point and looks ready to move higher. One can buy at the market from here with a protective stop @ 1667.50. Target 1760 and 1800. Take half off at 1760 and let the rest ride to 1800 or higher. For smaller traders use the YG contract which is 1/3 the size of the GC contract. Or use the GLD ETF (though with the ETF you’ll need to figure out the equivalent levels). If you prefer to use a tighter stop, use 1690. But, be prepared to reenter the trade if you are stopped out on a flush and it moves back up above tonight’s high.