Done and dusted

We finally reached all the objectives for the year in Gold and have had the pullback. Now I would expect sideways action between the highs around £725 - £730s and the high £600s. Thank you for being with me on this journey and I hope you all took advantage and have been able to benefit from this analysis.
For the record I was able to be 100% long from £560/565 to £725/730 - a gain of 30% in 4 months! Not bad for a barbarous relic! I am now out completely and in cash waiting for the next oppportunity to present itself.
Good trading!

Market profile Gold update - targets MET

As this was originally designed as a market profile blog here is my take on the Gold profiles.
Nov 30 short term low target MET today $1218 ....Jul09 Upprofile target MET ...Nov08 Upprofile target MET...Aug07 Upprofile target met - all between $1137 and $1200 ....£POG also had £700-£725 targets . As all of these profiles are balanced (demand=supply) there should be a reversion trade lower coming soon. There are no more off side shorts to fuel more buying from these levels. ALSO : Gold has been 100% correlated with stocks, has outperformed silver and the XAU, so shows worrying signs of speculative blow off potential. Why if it is an inflation hedge do bonds rally strongly as well? and if there is a crisis coming why aren't stocks in the tank? Or has it just been a liquidity hedge fund fueled buyathon? Food for thought ........Cash is King (for a while) .