Trade Alerts by Fibonacci - 21 Oct 2011 (00:50 am)

	Entry Point	Key Level	Projection	Stop Loss
Gold	1640.2 (Sell)	1621.0, 1625.3, 1630.0	1600.2	1647.9

Gold Chart (15min) -  Analysis time: 00:50 am

Commentary

A Fibonacci Analysis on 15min Gold Chart gives us an entry level of 1640.2 to go short, I will be observing this level carefully and the key levels when the market retraces placing stops beyond 1647.9. Lets see how the market behave to our Fibs.

Result:

Gold Chart (15min) - Result time: 17:30

Commentary
The market did retraced breaking all our levels and testing the stop loss level. Going short near the stop loss level would have been a good trade as I have circled on the chart above. Will be posting more trades soon!