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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Sunday, August 15, 2010

Q/A - mycowboyz1's $GOLD - fractals

The fractals of $Gold and $indu is strikingly similar.


if the same $indu fractal plays out, $Gold downside target is around 650. Both $indu & $gold support at a little below blue "wave-2".
the best case is a little marginal new high. but with the red medium pitch fork already hit the target price, and the blue pitch fork broke down, i doubt it would go any higher.
all, imo.

disclaimer, i don't trade or hold any $gold, gld or related. only research on the fractals.