Monday, March 28, 2011
Double Top in Gold?
Converging trendlines and a retracement in the ES - too obvious? - Covering 1275 and shorting 1315 - +40. *edit* 10 points in I took 30% off... Stopped for the rest at evens plus a tick.
The more I look at his gold chart, the more it's telling me top. I see a double top with each separate top consisting of a head and shoulder's pattern... The question remains - is all current information priced in... or, is the central bank shopping spree over? Gold needs to hold the green line around 1405 and close above 1430 or it could signify a trend change. Closing below 1365 would be a game changer.