Wednesday, July 29, 2009
New Video: What Happened to the Gold Market?
I think it came as a big surprise to many traders that the gold market imploded on Tuesday pushing to its lowest levels in several days.
The downward spiral was enough to trigger a daily “Trade Triangle” which moved us into the neutral camp on this market. Exiting our long gold position based on our “Trade Triangle” signals produced a very small profit or in some cases of break even trade.
So the question is: Is the sharp downward move in gold over?
In our new video we answer that question and share with you some levels we think gold will go to on the downside. We also share with you that we could be setting up for an excellent buying opportunity, if and when our “Trade Triangles” are aligned.
Before you trade gold watch the video and please leave a comment letting us know where you think gold is headed.