The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Thursday, October 23, 2008

Gold

Looking at some of the Gold/Gold related stocks and thinking it might be a good time to nibble. First look at DZZ (Gold Double Short) and the hanging man candlestick at the highs:Next, there's SPDR Gold Trust GLD with it's gapped-down inverted hammer with volume diminishing on the way down. Also, $7 away from it's 10-day EMA:Similar story with GG:There's FCX, for a little diversification in metals:RTP was at $550 just 5-months ago!And then there's AUY...the cheap of cheap! A bullish doji star on large volume.

1 comment:

EDWIN said...

I think, gold has ben bearish since june 2008 and could be more bearish until next year we may see bullish on gold, for this end of year we gona see rebounce and bearish, 900 or 1,000 not in this year