sharetrader - you have probably got my approach by now, so I offer my thoughts in terms of trends and trading bands......
with gold - obviously in down trend, but putting a one month trading band on the chart the sharp drop in price is now at the bottom off the trading band....... the last time it hit the bottom of the trading band it eased back upwards over a period of 1.5 weeks 19 points .......
so my thoughts would be to trade with the trend ie. short, but keep the bid up at say approx.1261 in anticipation of some retrace..... if you miss out, bad luck, you haven't lost any money, and there are plenty of other fish in the sea...
