Directly from Vladimir Ribakov's Live Trading Room

We have a very interesting situation here.  In my point of view I believe that the Gold is going to make it final move down.  If we look to the Daily charts we can see that price is building a flag pattern.  A break out and below the flag pattern and with the Stochastic indicator crossing down should provide us with a sell opportunity.  We will be targeting 1612 and if we get the break below this level with a retest and hold we can expect price at that point price to reach 1544.

Gold

Gold trade setup for March 20, 2012

Gold Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1616.30
1628.65
1639.60
1651.95
1662.90
1675.25
1686.20

Fibonacci
1628.65
1637.55
1643.05
1651.95
1660.85
1666.35
1675.25

Camarilla
1644.14
1646.28
1648.41
1651.95
1652.69
1654.82
1656.96

Woodie's
-
1628.30
1638.90
1651.60
1662.20
1674.90
-

DeMark's
-
-
1657.43
1649.21
1634.13
-
-