Gold Market Wire
News, analysis and commentary for gold traders and investors
A Decent Risk/Reward Trade
Gold is starting to show some mettle here at $1528.00 and its time to put some length on if the conditions are met.
Not too much, just a decent spec. Gold has the headwind of a strong dollar, but something like $1 trillion in government stimulus spending at its back.
Let's take a long position with a stop if we close below $1500.
Trading is about risk/reward. This is a decent set-up.
If we can get over the Power Down Trend at $1548.50 on the COMEX close.
That is the plan...now we trade it if we get it.