Today's guest is Gary Wagner of The Forex Gold Forecast who shared shared part one of his unique triple-play of forex gold analysis in a blog post titled, "A New Technical Triad and Gold". In part 2 of his strategy, Gary explores what is now happening in the gold market and what we might expect before fall.
We hope you enjoys today's post and leave your comments for Gary below.
-------------------------------------------------------------------------------------------------------------------------------------------------------
Where Might Gold Head This Summer
Trading the gold market might look easy when you consider that it has gone up $282 dollars in one year. However anyone involved in gold trading whether it be through Comex, Forex or Eft’s will tell you different. This is part 2 of a blog which began on May 13, 2010 (you can find that post here). In part one we spoke about the relevance of using Elliot wave, Fibonacci retracement and candlestick patterns as 3 tools well suited for market analysis and forecasting gold prices. This part two will continue where we left off. On May 13th we were nearing the top of wave 3 in Forex gold. Since that time we have completed that wave, seeing gold trade to a new historical high of first 1248, then after a correction (wave 4) to a new all time high in wave 5 of 1265.
Continue reading "Elliot Wave, Fibonacci and, Candlesticks: Part 2"
