Yes look a nice H & S. this is also a W with longer right right? so will the south movement that low ?
Don't forget practical and theory are 2 different issue , theory no cash was involve so every one of us can talk big when go the battle field every dollar count result will not be the same, every one sure will agree this point, so let us learn together. Since the technical analysis you use for equity market also works very well for currencies and precious metal. With leverage in FX, you can double up your return.
Just now talked to a gold merchant from India. The situation in India is not improving at all. The Indians used to "wash black money" by investing in physical gold and silver before the Indian government imposed a higher tax duty on gold import. Since higher tax duty on gold and silver was imposed, gold's bull market came to a rest.
How long will it rest ? I guess is much longer as QE3 and QE4 also failed to move gold and silver higher. After busy for meeting and also solving my pc problem now then really have time to update my data. Now look at the gold found it had go above 1610 near it resistance of 1620 ,it next resistance should be around 1630 if keep go north around 3 more days should be it TC of high. If Gold can break $1,800 barrier by the end of this year, this 9-wave pattern will be forfeited.
Tuesday, March 12, 2013
