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TFC Commodity Trading Forum

Re: Trades... take a look/ STR

Yes it was a nice new low with a strong rebound back above the double bottom. Nice price action. If DX holds above the breakout pt and rallies it could be difficult for any of the Golds to rally. Not impossible as they can both rally together from time to time but it would be better to see DX pullback for a Gold rally. The DX breakout hasn't proved itself yet and could pullback here. As one techncial analyst taught me years ago there is no exact tops and bottoms with breakouts and breakdowns as techncial analysis is as much an art and not an exact science. When I argued exact price pts he would just say not to use a sharp pencil when drawing trendlines but use a crayon. That made a very good point that took time to understand and believe. DX hasn't proved much of anything yet on the recent double top. Gold is up five bucks tonight so we'll see what tomorrow brings.