Gold "Thanksgiving Short" follow-up

After we opened a short position in spot Gold on Thanksgiving Day, the price dropped immediately. However, longs gained momentum just once more and squeezed the shorts. When the price crossed the psychologically important 1,200 US$/ounce level, the stop-loss orders of Gold bears were triggered and pushed the price up to1,226.  No more buyers left, the rally stalled there as our signal indicated before, and the subsequent more than 100 US$ drop confirmed the bearish impulse Wave 1.

This short squeeze price action can be labeled as a sequence anomaly in the Gold price trend and its turn as our system signalled us at the end of November. So we have been sitting tight and held the position, which in the meantime resulted in a very decent profit of 3,616 US$ or 7,233 pips on a very modest 50-ounce short position, within just 2 weeks!