gold in a pennant (Part 2)
#2
Posted 15 April 2010 - 09:14 AM
http://in.reuters.co...E63D08120100414
well i mentioned wesdome during trading as it was skying, it finished the day flat.
noticing certain select juniors breaking out!
dharma
#3
Posted 15 April 2010 - 10:11 AM
http://www.kingworld...m_Rickards.html
pennants are continuation patterns
we have broken out of the pennant , but we have stalled @1168 resistance area.(yes i realize that 1160s is the area).
i am looking for this area to be overrun, each time we test resistance it weakens.
my cycle work comes in the 23rd. also the 19-20th appears powerful
some of my juniors are breaking out of pennants as well, which i like to see for confirmation.
1183 is the next resistance, when this one falls.
not involved in the battle, but awaiting its inevitable outcome.
support 1153,1138,1123
dharma
#4
Posted 15 April 2010 - 11:08 AM
this interview of jim rickards is intriguing
http://www.kingworld...m_Rickards.html
pennants are continuation patterns
we have broken out of the pennant , but we have stalled @1168 resistance area.(yes i realize that 1160s is the area).
i am looking for this area to be overrun, each time we test resistance it weakens.
my cycle work comes in the 23rd. also the 19-20th appears powerful
some of my juniors are breaking out of pennants as well, which i like to see for confirmation.
1183 is the next resistance, when this one falls.
not involved in the battle, but awaiting its inevitable outcome.
support 1153,1138,1123
dharma
Bothers Senor that so many see it the same way, maybe it's right and tres wave recognition, but Senor is muy cautious.
Senor also ponders if pesodollar just finished a large correction and goes norte grande, too tough for this hombre. Is margarita and hammock time.
BSing away
Senor
#5
Posted 15 April 2010 - 01:13 PM
#7
Posted 15 April 2010 - 03:05 PM
#8
Posted 15 April 2010 - 03:48 PM
on a gold board, looks like there is little interest.
as should be the case w/little action!
frankly, i do my own work and when it says go, i go. until it says other wise i go
w/my strategy i sold mmg bought @ the 08 lows for 400%+
dharma
Got to be careful here. Gold is likely to top out in the next 2-3 days of trading and pullback. Once the current 15 week cycle bottoms, then we can see where we are and if a bullish posture is to be had.
GL
cheers,
john
#9
Posted 15 April 2010 - 05:03 PM
i appreciate your concern, we all get it wrong sometimes.on a gold board, looks like there is little interest.
as should be the case w/little action!
frankly, i do my own work and when it says go, i go. until it says other wise i go
w/my strategy i sold mmg bought @ the 08 lows for 400%+
dharma
Got to be careful here. Gold is likely to top out in the next 2-3 days of trading and pullback. Once the current 15 week cycle bottoms, then we can see where we are and if a bullish posture is to be had.
GL
cheers,
john
dharma
#10
Posted 16 April 2010 - 06:41 AM