Bought gold at $1,375 just now... Daily Alligator Jaw was supporting it, so I bought when it quickly bounced up. Shall took profit at 1388 waiting to see what's next move.
This type of candlestick formation is Tower Bottom, should be bullish at the moment being, Tower Bottom is one big candle sell down, after that several small candles ranging and building a base, then one big candle up to show sellers no longer able to press the price down any further. I can see the support at the 200 MA candles still under the other MA,so I'm cannot confirm about the move. I just use intraday hourly chart to look at the gold movement found the rebound was just because of the intraday TC of low at 6/9/13 18hrs. I think I could have forgotten the daily chart movement.
Saturday, September 7, 2013
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