Looks like the Asian bears wanted a piece of the action too. Gold bounced off 1563.14, I think this has to be the low but we may retest before heading upwards.

All Majors and Gold

Closed the shorts from 1579/78 for a further 300 pips - this wave is over in my opinion. I'm looking at a retracement to between 1588 and possibly as high as 1596 before any of the above two bear targets are hit. Enough drama for today, we'll see ...

All Majors and Gold

Based on recent price action I can see 2 bearish patterns emerging, my alternative set of bearish targets are: 1565.98 1559.51

All Majors and Gold

funny you should say that...short again from 1579/78, target 1570.45, SL set to break even.

All Majors and Gold

looks like the bears are trying for 1570.45 or lower.

All Majors and Gold

Congrats gnomoneey! I closed my shorts @1581 for 1300+++ pips! Could possibly see a bounce from this current 1581 area or at least a pause for air and water.

All Majors and Gold

Holy Heavy Metal! The bears are really going for it, next target 1580.91.

All Majors and Gold

Sellers are taking advantage of the holiday period - typical bearish behaviour - take no prisoners! We might get a mini bounce off 1591.37, otherwise I can see it tanking further.

All Majors and Gold

Yep, the market is definitely contracting, although it could be breaking out as we speak.

All Majors and Gold

Hi lex, oddly some thin volume days can yield quite a few pips!

All Majors and Gold

My first target for the bearish view is: 1591.37 although potentially I see a drop all the way down to 1563.98, with 1580.91 and 1570.45 in between. Conversely, I still cannot rule out a spike upwards. Short from 1600, SL break-even, may take ...

All Majors and Gold

Looks like the bearish pattern is playing out. 1600 could be a good place to go short from.

All Majors and Gold

Closed long at c.1601. Not the easiest position to manage, however, the sub waves did indicate a return back to this area.

All Majors and Gold

Yep, in the red at the moment. However, down but not out. I'm prepared to wait on this current long position, if it dips below 1592, I may have to call it in. Otherwise, my SL has allowed for this volatility - we'll see.

All Majors and Gold

Gold has already bounced from 1595.26. It could try for a lower 1593.66 - we'll see. After that I think the bears will be exhausted, for how long is anyone's guess.

All Majors and Gold

You live to fight another day - well done.

All Majors and Gold

Looks like Gold was too heavy to fly. Short orders below 1587 still waiting if it decides to tank. Still long with SL at 1590.50.

All Majors and Gold

The market does look weak - I'm considering closing out, I'll decide at the turn of h1 and next m15.

All Majors and Gold

You could be right, which is why SLs are the saviours.

All Majors and Gold

I think this has caused some traders to go long, if Gold can pull itself over 1603.65, we could see it spike further.

All Majors and Gold