My gold trade for the week of February 10th 2014

Looking at the hourly chart I am looking to take a short position in gold above 1,275. The emerging market issues have pushed gold higher and it has formed a bearish chart pattern. I think we will see a counter-trend correction which could take us back down to support levels between 1,250 and 1,260. A breakdown from here can lead to a test of 1,190.


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