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June 5, 2014

Pivots for Gold and the Dollar

My gold short as kept tiny for two reasons. First, gold was already late in its daily cycle and therefore susceptible to bounce into a new cycle. Second, the position was taken off instinct, and instinct trades are dangerous especially for bad guessers like myself. When given a 50/50 chance, I am wrong 90% of the time. And so today we saw gold bounce strongly enough to suggest ...

 

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