I think gold is still moving in the predicted direction as my previous posts. It still plays mostly in my upper path area. Although gold had went down because the good (green) US data (unemployment and housing start) but it went back up directly in the next 4H bar, also because fundamental (bad / red US data - Philly Fed Manufacturing). In this case, fundamental did nothing to the direction but widen the volatility only.
In this 4H chart, we can notice that gold is also moving in an uptrend channel (between yellow lines).
I think this yellow path will continue for several days ahead and will be a good scalping path. At least, from my experience in gold market, I guess gold will go down one or two more times to the yellow support and goes back up to the yellow resistance before breaking this temporary yellow path and make a new one. Of course, please do not take this as the "must-be-happened" prediction. Always open position with your own trading management.
Let's wait and see.
Happy trading.
GG - 2013.01.17
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