Gold ETF Play on Momentum Following FOMC meeting: Without listening in on the FED meeting, my plays on gold were solely based off of technicals and my interpretation of what seemed like a bullish move away from the $6's slowly building higher lows closer towards the 2:00PM Fed meeting. Multiple scalps before the meeting and an entry in @ $6.65 as the higher low @ $6.41 was found following a spike in gold. With that kind of spike, you typically aren't seeing too much of a fakeout simply due to how much $ it takes to move gold a certain direction. With this, I was confident the buying pressure would continue and momentum would at least bring us to $7's. I got out on the RSI overextension, but surely enough my PT was reached.