Thursday, December 29, 2016

GOLD YEAR END REVIEW - 12/29/2016

DECEMBER 29TH, 2016 UPDATE

Getting close to the end of year.   An overview is in order...




WEEKLY TIME
- IN 2016, GOLD EXPERIENCED AN OVERALL LIQUIDATION
- GOLD COMPLETED A HI-LOW TRANSITION WITHIN 20 YEAR PSYCHOLOGICAL HVA

- ZOOM IN TO EXAMINE THE RESPONSE TO THIS EDGE

4 HOUR TIME FRAME VIEW
- GOLD LIQUIDATION OVERSHOT PSYCHOLOGICAL 20 YEAR HVA EDGE SLIGHTLY
- PRICE PUT IN AN EXTENDED 10 DAY ROUND BOTTOM (TWO TRADING WEEKS)
- PRICE HAS REENTERED THE PSYCHOLOGICAL 20 YEAR HVA




5 MINUTE VIEW
- SHOWS AFTER TWO DAYS AT PSYCHOLOGICAL 20 YEAR HVA EDGE RESISTANCE
- SHOWS PRICE ACCEPTED INTO PSYCHOLOGICAL  20 YEAR HVA RANGE,
- PRICE DEMONSTRATING RESPECT FOR THE SMA 200


CARRY OVER CONSIDERATION:
- BULL RATIONALE FOR TREND TRADING: DAY TRADE 4 DAY MARKUP TREND
- NEUTRAL TRADING RATIONALE:  PRICE IS ENTERING FAIR VALUE REGION

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