I am just seperating fact from fiction. There will come s time when we MAY get a GFC panic selling and everyone looking for a trigger. There will be many perceived triggers because in a bias mind set every sell off signal is a potential. Hence they will be punters seeing a bull trend as overbought and likely to pick the top and conversely oversold bear trend bottom feeding.
You would have got killed doing this unless price behaves in an exponential fashion in both direction. Gold went exponential up leading into 2011. Stocks went expo down 2008. On each side of the asset class the bulk of selling or buying were one sided and eventually they will run out and revert to the mean.
Meanwhile gold at $1277 is a key resistance I hoping it would break on the daily. 4h $1292 is where I see a top forming. These are my targets and I don't know where it will go if it gets there.
