I felt it was worthwhile to re-publish this chart (untouched) to outline how using tight stops can hurt you over time.
Notice the gold market reached the generalized price in a similar, impulsive decline after another set-up where it was failing to rally despite a preponderance of bullish news. Recall back in September when QE3 out of the US and Europe failed to ignite a rally and led to a sharp selloff back then too.
I view this chart as a sign of a bottom to form, but I will wait for a pattern to set-up first. Keep a close eye.
Best regards,
Tim 2:01PM EST May 16, 2012
Notice the gold market reached the generalized price in a similar, impulsive decline after another set-up where it was failing to rally despite a preponderance of bullish news. Recall back in September when QE3 out of the US and Europe failed to ignite a rally and led to a sharp selloff back then too.
I view this chart as a sign of a bottom to form, but I will wait for a pattern to set-up first. Keep a close eye.
Best regards,
Tim 2:01PM EST May 16, 2012
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.