Support and Resistance Trading Forum

Re: Gold the money of ages *PIC*
By:charleydan
Date: 7/14/2009, 10:11 pm
In Response To: Gold the money of ages *PIC* (charleydan)

Here is an intraday and tells my approach to the trade.

The up pattern is forming an fourth waves now. The trend line is holding overhead along with .618. Notice the highest pinnacle there line drawn off at 934.3--the market may use that for a target and try to attain it.

I do not think the angling down line will allow much over cross--but opinions are made to make man humble.

Or one could wait for the one two to form. I will be watching this to trade short.

I should have mentioned the target on the daily chart. 800.

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