Tuesday, December 30, 2014

A look at the gold complex:

In order to technically claim a plot – such a gold - has a positive trend change we need a few conditions

First we need a recognized down trend which is a series of lower highs and lower lows. Then we eventually get a rally from a higher low – but the rally needs to break above the prior lower high (the pivot) in order to confirm a positive trend change. If this occurs on a daily chart we get a trade. On a weekly chart the pivot is higher – but you have to start somewhere. The attached chart tells all – a down trend, a higher low and a pivot target

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