November 27, 2015

  • Triangle discussed in previous post is working well for gold bears. For deeper falls price need to sustain below the broken support zone.

  • One hour chart shows a well formed triangle pattern. Price is near crucial support and resistance levels as shown in daily and 4 hour charts. Breakout or breakdown from triangle may give good direction for Gold.
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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