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Re: Trades: Gold Entry Point/Andrew *PIC*
In Response To: trades: gold entry point ()

I've also been busy with 'other stuff' and am enjoying the other stuff much more than this. Have been having a lot of internet issues and I am losing my patience with it. Would like to throw all this computer crap out the window and just might soon enough. The only thing I see here is Gold having lower highs and lower lows since last Sept. And for the last month the falling 20ema has been below the falling 50ema which tells you the trend of the last 4 weeks has been falling and is below the trend for the last 10 weeks as well. Not a good sign. What is important here is the 3.5 year uptrendline at $1600 plus the long term price support level at $1570 that has been successfully tested several times over the last year. Bottom line: I'd be a buyer around $1577 to $1600 with a predetermined stop in mind if support doesn't hold. Only you can determine what that would be exactly. I wouldn't be concerned about any gaps. Gaps are filled simply because there was no trading there so therefore there is no resistance their either and are easily filled. And there is no guarantee a gap will ever be filled. I wouldn't spend time on gaps as that is minor in nature compared to even the short term chart. Seasonal trends show consistently a sideways choppy downward price action into a summer low for Gold. June or even August is often the seasonal low. And the Gold stocks that tend to move 1st are still in a very bearish downtrend and underperforming Gold. That should reverse 'somewhat' before Gold rallies again. So buying Gold here is like betting on cold weather just as Spring is arriving. Doesn't mean it can't happen but you are then pissing against the wind so to speak,lol. All the best in your endeavours.

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trades: gold entry point
Re: trades: gold entry point
Re: Trades: Gold Entry Point/Andrew *PIC*