Looks like my theory about the gold price going to 1500 is being tested. As of now, i see the price going below yesterday's low as a double bottom for reversal rather than as a start of a down trend in D1. The troubling fact is that the high of this week has completed a double top at fibo level of 50.0 of last month. While the yellow is locked below black MA in both H1 and H4, the reverse has just happened in D1, but the gap between the price and the MAs are huge. Even if the price show indication of going down to meet the MA, i'll close the BUY order and rethink about the theory of price going to 1500. The current low of the day is at 1112.31, l'll close the BUY order if the price goes below this price today. The BUY order is at a profit level of around $560.
