Gold looks good again, what do you guys think ? let's discuss.
Gold's main markets are traded during US session . London gold is also traded during US session. FGLD is traded only during Asian session. Night market volatility will be brutal for our market. Furthermore, OKLI and SSF have become failed products. FCPO is traded by traders around the world. it is more successful than many other major futures markets .FCPO not much local people trade as far as I know, brokers told me once. But FCPO volume and liquidity is world class already, slightly worse than Soybean oil which is a far older product. FCPO is actually far more preferred than FKLI among Malaysians. If there is no retailers , then don't trade FGLD ... margin set at RM1000 is to lure in the retailers. i got enough margin to trade US gold but i don't trade gold. I am gold bug so I just buy some to keep. Each year October I will buy some as it is seasonal weakness period.
It is pitchfork, and multiple pitchfork can be said. Linear Regression Lines or Devil Pitchfork or 3 Silver Linings pattern, or any pattern we can name it. Pitchforks don't appear all the time, I still got problem recognizing pitchforks, stick to channels good enough. I forgot to mention that Pitchforks has a handle but lines parallel to the pitchforks can be drawn and laid over the Pitchfork and the Pitchfork is deleted or hidden so that there are only trendlines shown. OK look at this 15min Chart ,Look at the 10 MA ,25MA and 50 MA how they move together when they move together after they meet what will happen ,what was the relation of price bars and MA. Why I can have accurate TC points , was just because I read the price movement first , the price bars tell me some info from the info let me more easy to find TC points. Most of the people use news info as their guide of reading charts for me i use price bars to read chart, was the price movement create the news not the news create chart movement.
Wednesday, October 2, 2013
