Thursday, July 1, 2010

GOLD TRADING VERY TIGHT AND CAREFULLY, MAY PULL BACK A BIT MORE BEFORE MOVING UP

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3 comments:

  1. GuavaJuly 3, 2010 at 2:00 AM

    Hey nice chart, Keep up the good work.

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  2. GOLDTRADERJuly 5, 2010 at 9:08 AM

    GUAVA...

    Just noticed your comments.
    I don't see the comments on this blog unless I scan back through them, which I do occasionally to 'clean up' errors, etc.

    When the markets are moving fast, I don't have time to post any but the most important comments with the charts, as by the time I can get the chart posted, the entire situation more than likely has changed completely.

    Remember, I am trading at the same time I am posting these charts and posting these charts often distracts me from my own trading for which I have to be 'on top' of the market to the second.

    Additionally, the gold market is becoming much more frenetic in it's manner of trading and other markets no longer give clues as to gold'd next moves so you have to use your experience and intuition to predict what gold will do in the short term. We all know where it's going in the long term.

    Let me know where you are located.

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  3. GOLDTRADERJuly 5, 2010 at 9:19 AM

    GUAVA...

    Just pay attention to the fibonacci retracement lines and the trend channels to give you guidance.

    Gold consistently reverses on the 75% fib retracement line of each directional move between previous highs and lows.
    Downtrend channels are just giant flags that resolve in the OPPOSITE direction of their trend.
    Down trend channels resolve UP.
    Up trend channels resolve DOWN.
    The RED flags I point out are consolidation areas that resolve as described above.
    Have faith in these patterns as they seem to turn out as predicted a very high percentage of the time.

    When they don't, just hang on until you are back in the money, especially if you are long gold.

    You should NEVER short gold as one day soon it will explode to the upside and wipe you out of your short position.

    THE MAJOR TREND IN GOLD IS UP FROM NOW ON!
    THE TREND IS YOUR FRIEND.

    ReplyDelete

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