Gold Update (by Leaf_West)

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WARNING … EWT is mentioned in this blog!!

Gold is bouncing in the minute Wave 4 of the first leg lower here as I had predicted … the bounce has been stronger than I was expecting but it is now entering what should be the maximum retracement area …

Gold ETF (GLD) 15-min charts:

GLD_Aug 26_15min

GLD_Aug 26_15min_02

I've started to short GLD here and plan to stage into the trade as/if price continues to push into the "blue zone" …. my stop is $0.25 above the top of that zone ($178.07).

Cheers … Leaf_West