Thursday, August 25, 2011

Gold 4hr n 1 hr working charts

hrly
I only see 3 waves Down on this hourly.
Personally I reckon we have another to go on this timespan, but in the meantime the Hrly Buy signal as marked can not be ignored...

i haven't looked much at the lower timespans but I do note, A quick glance at the structure of the latest upsurge on the hrly seems to suggest it has an internal 5 wave structure, so... AND is interacting with the 41 MA at this time... This suggests to me that there is a high possibility price may test the now broken 21 MA (Green/Red) in a corrective 3 wave down fashion... If so how price acts $24 below current will be interesting.

4 Hrly
Stochs are kicking up on this timespan, Again I'm only seeng 2 waves down here n looking for a 3rd with some interaction of Price in the marked "buy zone"

Note that the sell zone was overshot, so may hap the buy will be undershot... Dunno.

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