Re: [RT] gold whats next

["Ira" <mr.ira@xxxxxxxxxxxxx>]

Ben:

 

Here is my chart.  I also have divergence at the high and downside pressure being applied to price on the weekly chart.  The black price objective is acting as resistance as it usually does.  For a major correction price would have to go through the red entry price. 

 

As we both know nothing goes straight up or straight down.  There is a 70% probability that price will reach the black price objective 2.  

 

On the daily chart I have a little different story.  I have two target prices one just above the other for different cycles.  One is 689 and the other is 700.  I have upside pressure here also, but it is over extended.  I would expect the next low to appear the end of next week  or Monday or Tuesday of the following week.  Where that low will be is anyone's guess.  To start a downside move on the daily chart price would have to go through 678 and first support would be at 665.  That is based upon the current high of 691.90.  In the mean time it doesn't look like there is much upside left to gold at this time.

 

One could cross reference with the dollar and crude.

 

Once again, just one man's opinion. 

 

Ira

www.thetradersguide.net

 

 

----- Original Message -----

From: Ben

To: astrofin@xxxxxxxxxxxxxxx ; ntt-list@xxxxxxxxxxxxxxx ; realtraders@xxxxxxxxxxxxxxx

Cc: ROSOW@xxxxxxx ; vincent ; panda2222@xxxxxxxxxxxxx

Sent: Saturday, February 24, 2007 1:24 PM

Subject: [RT] gold whats next

the attached chart shows the 4 levels that one will add  or get stopped out of gold

 

(the perfect stop loss)

the yellow text above them is the  $ amount for  each level

on the bottom   is the long term trading 

 

 

as you can see it is only screaming  to get out of longs,

 

(not  suggesting short)

 

trend changes should happen  march 3  to 3/5

next turn could be also 3/19

Ben

__._,_.___

SPONSORED LINKS

Small business finance	Business finance online	Business finance training
Business finance course	Business finance schools

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___

Attachment: Ben GCJ7 W 02-24-07.gif
Description: GIF image