Gold

Lol, yeah. All was going swimmingly until everything went crazy after the US opened. What a mad, bad last 2 hours of the day.

Crazy!

Jackozy wrote: Looks like that count could have been right. It's dropped out of the wedge now so should move down to 1525 area.

So what about the current bullish day it's having + 25 so far?

Looks like that count could have been right. It's dropped out of the wedge now so should move down to 1525 area.

Lovely bearish wedge on the hourly chart now. I've put on a possible wave count for this correction. Once this breaks down it should target 1525 area:



dl.dropbox.com/u/20815047/goldhourly26_02_13b.gif

Had a good look at the chart last night, and it seems that it is actually sat in a large range, between 1800 and 1526, from Sep '11 until now. Be interesting to see what happens if the 1520 level breaks and is backtested...the trading range break should open up 1240 in theory

screencast.com/t/VH4Vf7TAOhXP

Sorry, yesterday's chart contained a labeling error: (( w )) should terminate at 1625.93 making the copy terminate at 1527.90, almost exactly the previous low of 1526.90.