Analyze different stocks and markets to understand trends leading to successful trading and possible long term investments
Saturday, May 16, 2009
Chart of Gold
Long term view of the Gold chart. See how it is right at the resistance. Stochastics are oversold and looks prime for a nice BO. If the trendline stops its here; we will pullback.
Update on gold movement on intraday chart by epicresearch.co ,Gold bounced back with sharp gains on short covering, tech- nical buying and amid geopolitical crisis in Yemen.
I have been actively trading for the past 3 years. After 2 years of struggling with stocks, I reached an inflection point in October 2006 and have been making good profits since then. I learnt that identifying trends early and focusing on the fundamentally best stocks in that trend is very important. Moreover just fundamentals are not good enough. You need to complement that with good Technical Analysis to pick great entry points and exits. They say a picture speaks a thousand words and I strongly believe in that. I use trendlines, Fibonacci and Elliott Wave theories as part of my TA tool sets. Last but not the least, one needs to keep accurate trading records and have a sound money management system to succeed.
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Update on gold movement on intraday chart by epicresearch.co ,Gold bounced back with sharp gains on short covering, tech-
nical buying and amid geopolitical crisis in Yemen.
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