A similar thing was done on our XGD
I think the longer term bullish signs will make this a minor pullback. In fact you could watch the support line of the trend channel. First touch was late November. Last was 3 day ago with one or two in-between. If this line doesn't get penetrated you're laughing.
I wouldn't be taking a bounce up from it as a buy signal though. I'm more inclined to watch the resistance line of the 1 year Down-sloping Widening Wedge on the gold chart for a penetration of that to signal a buy.
Siamese Parrot: I only took his post as meaning he is doing his homework. Not boasting about being able to buy them back at a substantial profit.
Although if he can do that, it's a bonus.
More importantly, one aim should be to make a profit. The other should to protect what you already have. Anyone stands a better chance of doing both if they trade with a plan. That's what he is doing.
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