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[QUOTE="ddukic, post: 35770, member: 17645"] Gold 09/11/2012 - 4h Chart Analysis [IMG]http://fxlisting.net/images/gold240-09112012.jpg[/IMG] GOLD 4 HOURS CHART SUGGESTIONS: I mentioned in previous comments that a “head and shoulders” set up was forming after the up move of the price on the announcement of Obamas re-election. “Whatever does not go down, goes up”, experienced traders sustain. So, the price moved up. At this right moment is under the 200SMA and pretty soon in the day we will observe its evolution. Don’t forget to consult the Fibo Retr scale marked with blue arrow. This Fibo scale measures the reaction’s extension against the fall from the level of 1.788,33 till the level of 1.673,32usd. Whoever was on long running positions stays cool and waits the result of the “meeting” between the price and the 200SMA. Please note that such meeting may last several trading hours. Obviously, by now, you know what to do above the 200SMA or below it. [/QUOTE]
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