Thursday, August 27, 2009

STUDY THE PREVIOUS LONGER TERM CHARTS TO SEE HOW WHERE WE ARE RIGHT NOW FITS INTO THE BIG PICTURE


Study the various trend channels and highs that gold
has to exceed to move higher. Gold will break out of the
large yellow downtrend channel to higher prices but will
find resistance at each of the previous highs on the way up.
Within all that, we still need to use the fibonacci retracement
points as a guide to where gold will pull back both up and down
as it stairsteps higher so we can take advantage of our gains
without giving up any profits along the way when gold gets
bashed down at the Crimex each day as a regular occurance.
Gold must break soldily through 960 and close up there to
move up to 980, 1000 and beyond