GOLD 0.51% $1,391.7 gold futures

GLD, page-75

  1. 42,275 Posts.
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    Suspect so.
    I was watching the price action at the time and I posted that the headline NFP did not tie in with the initial spike up. 1152 is another key weekly level that the spike happened so my first reaction was another round of stop sweeping above that level. It 'looked' that way realtime as they took price down and I jumped in for a short and hopped off with a quick scalp. You just never take things for granted in these highly volatile time when the bulls/bears fighting for the dominant direction.

    On the 5m chart you can see the small zone where the bears took the post NFP price to then reversed it back in that bullish momentum bias. As soon as the wick forms I had a feeling that a low was set and decided to look for a long play. There was no way of knowing that the bounce is more than a short covering when the headline NFP headline was screaming sell the gold!

    The rest is history and expect the unexpected....
 
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