Point 1, the analysts might represent 90% of the market, but it doesn't mean they are aligned in their thinking. And now the more important point -you being uncertain as to whether to go long or short. Well, this is what systems are for. Market movements are random. This is a fact. But within those random movements, there are patterns, and their is bias. The trick, as a trader, is to look for the patterns that you are going to act on - and execute them - every time, without thought. You need a trigger. Some traders, like me, are discretionary in their triggers. Others, like Simon, are purely mechanical. You have to find what works for you, and you need to accept that you will be wrong 30%-60% of the time, depending on your system and your risk / reward ratio. Now, my system, I am bearish, and will remain so as long as gold is rallying and markets are stuck in their bear flags, etc. Now yesterday's price action (exhaustion move) has changed the short term view for me - I think we are going up - to the middle of the Jan and Feb's noisy mess. Then I will wait for a renewed selling pressure / exhaustion move.
