3 replies to this topic

[Wallcrawler]

Well so far we have reached my target area of 82ish - (82.50 currently) (which was posted in the original XAU watch), I am expecting a pull back from here, but not sure how much.

[img]http://quote.prophet.net/JCPrintChart?href=http://ABUNDANCE.prophet.net/TemporaryFiles/JavaCharts/17.1116426474230.print.gif[/img]

On the chart below...if the pullback is going to be a larger one than the Parabolic SAR needs to be showing reds above the price action and be breaching the red dot on the bottom part of the price action. (eg. see chart) (vitaminm pointed this one out to me)

There is GAP just below that will need filling and think it will be very soon. Whether or not the price action will find support there...not sure. We will just let the charts tell us.

[img]http://quote.prophet.net/JCPrintChart?href=http://TRUTH.prophet.net/TemporaryFiles/JavaCharts/19.1116427733321.print.gif[/img]

I do believe we are going to go through a basebuilding process over the next couple of weeks where we will most likely retest the recent lows or maybe a little lower with a build up of bullish divergence, and then its up, up and away.

Newmont Mining (NEM) is one of the possible stock option plays. But want to see if it will drop a little more (34ish area) before I take a trade.

Edited by Wallcrawler, 18 May 2005 - 10:12 AM.

[colion]

Well so far we have reached my target area of 82ish - (82.50 currently) (which was posted in the original XAU watch),  I am expecting a pull back from here, but not sure how much.

Am still looking for 74.88.

[Wallcrawler]

[quote name='culion' date='May 18 2005, 11:11 AM']
[quote name='Wallcrawler' date='May 18 2005, 10:10 AM']Well so far we have reached my target area of 82ish - (82.50 currently) (which was posted in the original XAU watch), I am expecting a pull back from here, but not sure how much.[/quote]

Am still looking for 74.88.

Excellent chart!!!!!

And have to agree. Some where in my comments I stated that I will keep my 75 target. That is where I will looking to trade this index.

Great chart though!!!

WC

[Wallcrawler]

Looking at the 30min chart I will watching the GAP below as it acts like a vacuum sucking the price in. However, GAPS can act as support or resistance. From the looks of things this is just a brief pullback before get alittle more upside. My short term target now will be the 85-86 area. Notice the Parobolic SAR (thanx vitimmin)

30 min
[img]http://quote.prophet.net/JCPrintChart?href=http://ABUNDANCE.prophet.net/TemporaryFiles/JavaCharts/207.1116512252527.print.gif[/img]

A BIGGER picture

[img]http://quote.prophet.net/JCPrintChart?href=http://ENDURANCE.prophet.net/TemporaryFiles/JavaCharts/249.1116513053526.print.gif[/img]