Gold has been tracing out a very clear rising wedge for the past 2 months. It broke through it today but has recovered slightly back into the wedge. Once it definitely breaks down, under about 63.70, AND HOLDS, look for it to return to the area where the wedge first started, around 55.50-56.00.
Hi Fox, I can not disagree with your thought here. In fact that is what I said in my last safehaven.com article. In fewer and lesser English (: :) Thansk my friend. Keep you interesting comments coming. Good Trading
I don't do too much with seasonality, other than just be aware of it. Frankly, I don't think it will hold up a weak pattern, all other things being equal. I am long-term bullish on gold, but I would be a seller if it CLOSES outside the rising wedge. I didn't notice the article referring to a rising wedge on safehaven, but I do read most of the stuff there. Good Luck!
I don't do too much with seasonality, other than just be aware of it. Frankly, I don't think it will hold up a weak pattern, all other things being equal. I am long-term bullish on gold, but I would be a seller if it CLOSES outside the rising wedge. I didn't notice the article referring to a rising wedge on safehaven, but I do read most of the stuff there. Good Luck!
Please excuse the double posts. I'm having a little trouble getting signed on to Google, because I have some old accounts there, and I have forgotten some of the passwords.
No problem Fox. You are absolutely correct, I do not speek of the wedge pattern. But I based my assumptions on purely price attraction ( resistance/support ) and tming considerations. Thanks a lot and have a nice day.
10 comments:
HA... 60 cents reversal already?
HA... HA... HA...
100 cent dtop almost!
Gold has been tracing out a very clear rising wedge for the past 2 months. It broke through it today but has recovered slightly back into the wedge. Once it definitely breaks down, under about 63.70, AND HOLDS, look for it to return to the area where the wedge first started, around 55.50-56.00.
Hi Fox,
I can not disagree with your thought here. In fact that is what I said in my last safehaven.com article. In fewer and lesser English (: :)
Thansk my friend. Keep you interesting comments coming.
Good Trading
Hey Fox, we got time.
I would like to ask you. Do you think the seasonality may help Gold to stay up here for a while, like until Jan 2007?
Thanks
I don't do too much with seasonality, other than just be aware of it. Frankly, I don't think it will hold up a weak pattern, all other things being equal. I am long-term bullish on gold, but I would be a seller if it CLOSES outside the rising wedge. I didn't notice the article referring to a rising wedge on safehaven, but I do read most of the stuff there. Good Luck!
I don't do too much with seasonality, other than just be aware of it. Frankly, I don't think it will hold up a weak pattern, all other things being equal. I am long-term bullish on gold, but I would be a seller if it CLOSES outside the rising wedge. I didn't notice the article referring to a rising wedge on safehaven, but I do read most of the stuff there. Good Luck!
Please excuse the double posts. I'm having a little trouble getting signed on to Google, because I have some old accounts there, and I have forgotten some of the passwords.
No problem Fox.
You are absolutely correct, I do not speek of the wedge pattern.
But I based my assumptions on purely price attraction ( resistance/support ) and tming considerations.
Thanks a lot and have a nice day.
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