We’ve been looking for the top of the wave in gold too. As all readers know you’re not supposed to do that unless you are trading against your position. And, trying to pick the top sometimes cheats you of the subsequent up move. And you can see a buy signal in the gold the last couple of days. Not a roaring signal, but a signal. We’re not buying anymore right now, but if you were really aggressive this is an add on signal. If you’re just trying to get in then it’s a dip the toe in signal. We haven’t marked all the buy signals on the chart. We’ll do that in the future.
A question regarding tactics: It seems we broke the resistance (trend) line of March 08 high to July 08 high. Often these issues may test past highs, then pulling back (i.e. to retest prior resistance, support now). Is it too prudent to wait for this test before adding for a trend trader or is it a ‘future prediction’ that such test may occur?
I’m having a little trouble visualizing this. Alain are you French? I may be having a little trouble with the grammar. Generally I think you should see a signal before adding on — a gap, a run day. Adding on downwaves when you feel like you have the rhythm and see a strong run day. This is a little difficult to explain in this context. if you look at the gold chart you will see numerous instances of marked buy signals. I spend an entire session on this in my 15 week seminar.
Thank you. Think I got it.
Where can I find information about the 15 weeks seminar?