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>Gold just filled an ole gap and is acting well. Also 62% retracement.
>
>Worth a look.
>
>I'm going in... thoughts?
>
>Michael
Actually I have been thinking about the whole weekend.
Why?
Well...
1. Mecury went retrograde last Thursday Nov 4
2 Sun squared Uranus last Friday Nov 5
3 Sun was in Oposition to Saturn on Saturday Nov 6
4 We had a New Moon on Sunday Nov 7
So what?
Well....
1 In connection with the Retrograde and Direct motion of Mercury several commodities seems to respond to these dates and Gold is one of them
2. Ray Merriman notes in his "Gold Book" aboth the Uranus/Aspects:"This signature brings together two very speculative principles. The expected result would be one of great volatility.... In many case A BULL OR BEAR MARKET WOULD BE INDICATED PRIOR TO THE TIME OF THIS ASPECT, then suddenly reverse, if only for a short period. (Capital letters by me)
3 The Sun Op Saturn he comments: "...this is one of the most potent signatures related to goldcycles, within a 6 day trading period... Very powerful cycles in Gold prices tend to occur within 6 trading days of Sun oposed Saturn. In many cases a prominent cycle will occur within only2 trading days. Usually this will be prominent through on the order of a major bottom. frequently this coincides with a trend reversal."
4 This is perhaps the most common known astronomical trend change phenomenon known to traders, where we often see a new moon in connection with new trends...
In the weekly chart (pitchf.gif) we can see we are at the the 50% retracement level of the first outbreak. Which is also the middle line of an Andrews pitchfork.
In the daily chart of the Dec contract (GCZ.gif) We can see the fib time relationships pointing to a trend change the week nov 1-5 and that we may have found support at the okt98-mar99 trenline.
the 24 line [Thomas Long's discovery(?)] that prices tend to find support resistance at a price evenly dividable by 24 (at least gold also stopped at one of those lines on the way up, so it may be relevant for a while?).
To be continued in the sv.gold II (goldstocks)
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