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> The XAU has hit a five year low to the date. 11/27/92 to 11/28/97. An
> interesting gold URL is http://www.gold-eagle.com.
>
> BobR
This weekend is also interesting with regard to the position of Gold.
Years ago I read something like" Gold has a tendency to gap up after the
Thanksgiving Holiday) (In a bullmarket?)
If that should happen today we will have had an "Island Reversal" last
wednesday, which is a "Reversal Formation"
But that's not all. We have had several interesting things happening this
last weekend, that might help to make it an "Island Reversal"
1. The 27th was an Astroday
2. This was a day with several, to Gold, important Astronomical
aspects(I'll spare you the details)
3. 28th was Gann Year = 247,5 degrees
4. 29th was New Moon
5.As a mater of fact the whole weekend had a very interesting and unusual
planetary constellation.
6. 28th was First Notice day for Dec Gold, which according to SuperTrader's
almanack tend to drive prices down into that day when speculative Longs
tend to sell their positions. When this happens together with a seasonal
downdrift it's what they call a "SEASONAL Slammer" which is usually very
powerful in pushing prices lower. BUT (!) when this weight is lifted, we
should see a push UP. (Let's see today..)
7
If you look at the enclosed gif (Feb Gold) you will also see a coincidence
of wave lengths and tops/bottoms that end up on Nov 27th - indicating trend
Change on around that date. (check the Fib 34 days for example)
8. You will also see the Japaneese candelstick that could be defined as a
"Dragonfly", which is very bullish. (A Dragonfly, though, closes at the
high of the day gold closed 12% from the high, so I would call it "Perhaps
Dragonfly".
9
Dynamic Trader has a function that automatically identifies "Wide Range
Reversal Dates" We had one on Wednesday. When did we have the last one? Oct
1st = the high in this Trend channel.
It is actually also what he calls new High/Low day (shown with the same
dot) that indicates that the new low is NOT a break out to new lows.
If this is the low we are waiting for I don't know, Robert Miner claims
that a major low will not happen until Dec or Jan, but it definetly looks
like a tradable one!
I didn't want to mess up the gif. with more lines, but we do have some
support under the "Fly" as well.
And, I forgot, 29th was Calenderday 333 in 1997 and tomorrow is the
233th(Fib) Trading day of 1997
God Luck!
Stig
Attachment Converted: "c:\eudora\attach\Feb gold.gif"
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