This is Goldtrader's New Blog Site.
The old blog would not allow me to post more charts, saying I exceeded the FREE quota of space. Nothing else will change.
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Friday, January 22, 2010
STOCKS RISING, GOLD COULD RALLY TO THE TWO 75% RETRACE POINTS SHOWN
THIS LITTLE SIDEWAYS 'S' PATTERN IS A CONTINUATION PATTERN, BUT IT MAY FAIL AS IT TURNED DOWN ONE TOO MANY TIMES NOW IT'S JUST A CONSOLIDATION THAT COULD BREAK OUT HIGHER, EXCEPT IT JUST WENT A BIT LOWER
VERTICALWHITE LINES DESIGNATE THE START AT 5:20AM PDST OF THE DAY SESSION COMEX OPEN THE VERTICALBLUE LINES DESIGNATE THE 10:30AM PDST CLOSE OF THE COMEX DAY SESSION VERTICALGREEN LINE DESIGNATES MARKET OPENING AT 3:00PM PDST ON SUNDAY THE VERTICALRED LINE SHOWS WHERE WHERE COMEX GOLD CLOSES AT 2:15PM PDST COMEX REOPENS ON THE VERTICALORANGE LINE AT 3:00PM PDST VERTICALPINK LINES DESIGNATE MIDNIGHT PDST THE ORANGE HORIZONTAL LINES I USE TO SHOW WHERE PREVIOUS TOPS ARE WHERE GOLD WILL RUN UP TO AND STOP, PULL BACK, OR BREAK THROUGH... THE HORIZONTAL PALE BLUE LINE INDICATES YESTERDAY'S CLOSE PRICE THE HORIZONTAL GREEN LINE(S) INDICATE MY LONG POSITION(S) DAYS OF THE WEEK ARE LABELED AND THE DATES ARE AT THE BOTTOM OF THE CHART ALONG WITH TIMES OF EACH CANDLESTICK THE TIME PERIOD OF THE CHART IS IN THE TOP LEFT CORNER AND DESIGNATES THE LENGTH OF TIME EACH VERTICAL PRICE CANDLESTICK COVERS...