December 2, 2013

  • Gold 4 hour chart shows price making another low. 4 Hour cloud is acting as stiff resistance.
  • Daily chart has violated 78.6% Fib level. Daily close below 78.6% Fib level will strengthen gold bears further.
  • ES one hour is trading below 100 Hour SMA.
  • 4 Hour charts are approaching crucial support lines as shown in second chart. 
  • The 4 hour cloud may also act as strong support level. Support levels in 4 hour time frame must break for a bigger fall to happen.
  • APPLE Weekend update


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore