Wednesday, 23 October 2013

Gold plus Emini S & P : Schiff median line + reaction lines

Gold seems to have peaked and run out of momentum. My eyes rest on this market  for a further break out and retest above $1350
If you superimpose the reaction/median line matrix over the simple bline and 2 x stochastic template you will see the short stoch ribbons pattern below

ES Z13 below shows a sweet Schiff pitchfork that often can be drawn where no significant low is available. The reaction lines reveal just a fraction of the price matrix.

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