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Gold Tests Bottom of Recent Range; 1219 or 1206 on Tap?

Gold Tests Bottom of Recent Range; 1219 or 1206 on Tap?

2014-01-22 00:54:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_gold_body_Picture_3.png, Gold Tests Bottom of Recent Range; 1219 or 1206 on Tap?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Keep 1219 and 1206 in mind as support for gold after the drop below short term trendline support (trendlines off of spike lows are usually not very useful).

-A drop into the mentioned 1206/19 (probably closer to the bottom of the range) could take part as part of a larger basing process.

LEVELS: 1206 1219 1234 | 1244 1255 1268

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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