April ’13 Gold: Bear Trend Acceleration
- The MKT is vulnerable to the offer and threatening fresh losses. On the SELL side accept FADE, REVERSAL and BREAKOUT strategies below the previous sessions high point. DIR and DP BREAKOUT strategies should just "go", so do not risk much. UP FADE strategies are recommended over REVERSAL strategies as the MKT is expected to hold lower structure and any momentum shift should be considered a potential positive corrective turn.
- On the BUY side avoid REVERSAL strategies off major support levels as these signals are more likely short squeeze rallies and opportunities to SELL into and FADE. BREAKOUT strategies above the previous session high are a long shot, so risk less and go for more. Any DP FADE should have confirmation and is not recommended if the integrity of the previous session high is intact. After a break in the negative structure is confirmed, support levels can be used for short-term reactions using aggressive position management.
