Look for sizeable gold and gold stock correction over next week

Gold/XAU Ratio 4.34

The Fibonacci sequence involves the use of ratios, and the two ratios that are focused on in this trading tip are 1.618 and 2.618. Time can be forecast by measuring the horizontal time period between two points A and B, and multiplying by the Fibonacci ratios. The result as plotted rightward point to recent high as a reversal point.


I plan to trade the Horizons BetaPro Gold Bear Plus Fund (the "Gold Bear Plus Fund") seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the inverse (opposite) of the daily performance of the GSCI® Gold Excess Return Index. Intra day level of $HUI at 390 will confirm entry to this trade. Stop loss will be new highs in $HUI (418 level) Trade objective will be Fibonnaci retracement to HUI 355. This is a high risk trade and will only risk 2% of my trading capital.