Thursday, 29 July 2021

Gold continued............its not magic just 30+ years of watching the screen/price charts

Monday, 5 July 2021

Gold continued................Simples!

 Simple study with one pitchfork and reaction lines and one sliding parallel. stunning entry! Now we must also understand line co location. The position of the reaction line in the daily chart shows it is not in immediate contact with price action but if you drop down to the 4 hour chart you see a perfect correlation with price and the recent fall after the centre line was pierced. I expect a break upwards but we may yet fail on first attempt and see price retouch supporting lines ( LMLP 1784 and SP 1756) before bouncing. REMEMBER: once you have chosen your 3 pivots for the ML (Andrews pitchfork) and add the custom indicator all other lines ( reaction lines and warning lines and sliding parallels etc) are all drawn automatically and you cannot move them manually.