Discussion in 'Commodity Futures' started by Gold Trader, Aug 13, 2006.
In this thread, we will be discussing technical analysis on gold and forex.
as expected gold is falling. i hope there will be more room for gold to fall.
gold broke out of the triangle clearly. we can expect gold to be falling more today.
i hope gold would be accelerating the fall today.
my view on gold to short no longer valid at 625.
technically, gold is very weak.
all of my indicators are showing to the downside with strength.
again, breaking of symmetrical triangle is confirmed by the indicators on daily chart.
when many indicators are confirming each other, i hope, your indicators as well, it would be massive selling, i think.
Good call on gold, down she goes right along with oil. As I write this there is a close hedge with gold and oil, for the moment!!
yes, it is a really nice move down.
those of people who are against technical analysis would be going long with fundamentals.
charts signalled many days in advance.
technically, gold has been hinting us several days in advance that it would fall.
some of the technical patterns were also violated as well.
while fundamental traders are looking for the reasons of the fall, gold could be bottoming or reversing.
when most of the technical indicators confirmed each other, it normally generates very powerful move.
and all the indicators will not change the direction without any warning most of the time.
so, gold would continue its trend until there is a revesal pattern.
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