[RT] Re: Spot Gold

["Jeffrey Harteam" <jharteam@xxxxxxxxxxxxxx>]

Greetings Traders:

Further follow-ups of market actions to a post earlier this morning on Spot
Gold:  From an intraday perspective, it turned out that gold was unwilling
to go lower; and has developed another bigger Gartley 222 Harmonics pattern
to go long again at the break of the down trend line towards point D (Please
note that there was another pattern at point D to confirm for a long with
very minimal risk exposure; which is the "h" pattern depicted).  At the then
potential bottoming of the Gartley 222 at point D; it was contained by 3
fibs retracements & extension. (100%, 100% & 78.6%).  The Exponential Moving
Average in slate blue is the 150 Exp.MovAvg; obviously could not contain the
current up move. It is now up to 250 Exp.MovAvg (in Black) to do its part to
stall prices.  Break of the 250 Exp.MovAvg confirms intraday low is seen and
traders should look for long setups thereafter.  Take care.

Have a good one
Jeff Harteam

-----Original Message-----
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On
Behalf Of Jeffrey Harteam
Sent: Friday, April 25, 2008 6:53 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: RE: [RT] Re: Spot Gold

Hi Chas:

It is a demonstration that harmonics patterns occur quite often on various
markets, especially the Gold market.  Yes, I did short the gold all the way
down yesterday; and traded for a swing up when I spotted the Gartley
Harmonics.  Although, on other higher intraday timeframes; Short setups are
still in favor.  At this juncture,  the depicted Gartley Harmonics has given
me a +US3.00- profit (I close the longs already; as I'm still in favor of
the short setups on other higher intraday timeframes); and the 'swing up'
from Gartley pattern could very well be the Wave C of an A-B-C corrective.
Over all, the market is still on a sell mode.  Hope I clear things up a bit.
Take care.

Have a good one
Jeff Harteam

-----Original Message-----
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On
Behalf Of Charles Meyer
Sent: Friday, April 25, 2008 5:13 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] Re: Spot Gold

Jeff-

Is this for a trade?  I'm not quite sure I understand the 
consequences of
your charts.  Uhh...I think you're saying that it was a 
buy today for a
trade tomorrow; or for a swing up?

Best regards,
Chas
----



On Fri, 25 Apr 2008 06:25:04 +0800
  "Jeffrey Harteam" <jharteam@xxxxxxxxxxxxxx> wrote:
> Greetings Traders:
> 
> I hope everyone has benefited from last night's heavy 
>intraday sell off of
> the Gold market.  Gold has also formed a Gartley 222 
>Harmonic pattern in the
> late trading hours; For now, intraday bottoming of the 
>Gold market is in
> place. Please find attached JPGS for the said Harmonic 
>Pattern in the 1-min
> and 5-min timeframes.  Take care.
> 
> Have a good one
> Jeff Harteam






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