20 October 2011

Gold : Re-drawn Line, Breaking Again

  • Fresh sell signal again. 
  • With the lower wedge line redrawn, the pattern looks much better now. Higher confidence that this will work.
  • Breaks that occur by default ie sideways move until apex of triangle is reached, are usually useless.
  • Early breaks such as this one, in the middle of the triangle, are much more reliable. A close below 1626 today would be good.

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