Wednesday, 26 October 2011


Firstly did you look at the DAX chart yesterday LINK 1 and LINK 2 and the reaction line i talked about? Today the same line works (on what i consider to be a greatly over extended rally) a treat and sends price lower.

The Gold market below.. ( please look especially at the Esignal chart and structure shown) which explains why price is making heavy weather of the 1720 level but i will watch to see if price finds support on the two thin parallel ML's that pass diagonally through the chart. If we see a touch back onto the reaction line we would see a failure to break out and get carried back to 1705 again.

EURUSD below...i have nothing to say except its about time that we saw lower pricces and we should be alot lower than this. We find price back on the 1974 centre line. Link
A brave man would sell here becuase in the short/medium term i suspect we will see 1.30 levels again.

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