Okay, no one has started the new topic, so here it is. Silver ready to hit 48, gold at another new all-time high, ES futures are up and rising, the Aussie is looking strong, CL another new high for the move, and working on that contract high. Same old, same old. 'Risk on'.

So, is 1569.80 enough for gold today? Everything 'risk on' looks ready to roll over here. Will it?

Be ready for some 'profit taking'...

Everyone watching silver for the lead??? Look at gold. See? Profit taking time.

I just 'knew' silver would dump out of that tight range when it didn't follow all the 'risk on' group. Now we see if they come in strong on this 'dip' or not. That's a big clue. Everyone did notice I didn't have silver on my long intraday list today?

Okay, watch how gold bounces off this 'dip' here. There may be a lot to be understood in how it handles this. What does it do when it gets to one of the obvious areas, and if it reacts there, what does it do? It may act like it is going down off the area, but when it comes in, it may then hit an area that it should blow through if there was more downside, and it may ignore that and move up off that area. That's a clue it is reacting to an 'up' area. This is a clue many who are short will tend to ignore, at their own peril.

SLV exploding up dead off a key line.

Okay, silver and gold at that first bounce area I mentioned, now let's see how it acts.

Okay, here's the obligatory checkback. Watch what it does. Set up the areas. See which scenario it follows.

assume the trend lasts forever.....and forever....only if the price action gives you clue may you use the setup as your tool for entry...

boy does Gold want that 1587.5 to 1591 area....just squeezing on up..

Originally posted by jarek

10th bullish ABCD in the recent uptrend in the making?...
This must be really boring for all long on EUR...

Almost fully completed now: