With today's sharp break below intermediate term triangle support, the trading range idea becomes front and center.
Fib
https://stockcharts.com/c-sc/sc?s=$GOLD&p=D&st=2011-04-30&en=(today)&i=p95416321194&a=287940869&r=1357307561600.png
Trading Range
Started by
fib_1618
, Jan 04 2013 09:12 AM
1 reply to this topic
#1
fib_1618
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Posted 04 January 2013 - 09:12 AM
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
#2
fib_1618
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Posted 05 January 2013 - 01:15 PM
I just updated the A/D lines for both the composite Precious Metals and XAU Advance/Decline lines and they continue to hold their ground in the face of yesterday's intraday sell off. As long as this continues, the maximum downside we might see in spot gold would be the lower end of the trading range that was previously posted above.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
