August Gold – The TMV Swing Trade Report is currently hold the short position in the August Gold from $1247.00. Gold finally gave it up on July 1st and finally confrimed the bearish reaction swing I have been talking about in the newsletter for the past afew days. The market had been trading in a sideway consolidation pattern since the swing pattern failure on June 28th, one day before the projected reversal date. The market broke out of the small reaction swing hidden inside the consolidatioi pattern (this was the small swing pattern that formed inside the June 23rd to June 26th reaction swing) and plunged over $47.00 before the session finally ended. I have a longer-term target objective near the $1155.00 with the reversal dates due on July 9th, but I think it’s time to exit the short position at $1198.50 or lower, bank the substantial gains and wait for the rebound. The current profit stop is at $1227.00.
