15/4/2013 – April Gold Update Part 2!

Well, what a difference a few days makes!  I wrote a post on Thursday about price coming down to the 1530 – 1570 Support level. As you can see from the chart price crashed through that the next day and closed the week off at $1489! I’d love to say I timed my post to perfection but it was complete luck on my part!

 

goldweekly april update 2

 

Whilst I did think that the downtrend would continue even I was surprised by the strength and ferocity of the selling. And today it got worse! I was looking at support levels in the 1430 region and it sliced through them like knife through a butter!  The next levels for me were around 1334 and we started to see lows around 1335. That’s a drop of $226 over two days of trading!  Holy cowabunga!  That’s a massive move by anyone’s reckoning.

We shall wait and see what the rest of the week brings us. Should be interesting!

 

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About FXTraderPaul

A professional Trader and Coach, FXTraderPaul blogs about his adventures from the front-lines of FX Trading. A Trader and educator who can walk the walk as opposed to merely talk the talk!

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