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Gold Gann Angle Update - Classic continuation setup
Created on: 1/28/2021 1:42:28 AM

gold-gann-angle-update--classic-continuation-setupGold has a classic continuation pattern set up, but of course every one can see it, so the trickery around the break out to higher prices will wear out some weak hands.

The continuation pattern (bull flag) is also at major all time high resistance, in Wyckoff language you can call this a 'spring board' as it is the final work done by the composite man before higher prices are achieved. Expect prices to move higher very quickly, so the retail trader wont be able to build any position of size. This blog target is $2500 on gold futures price.



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Investing Quote...

.."Tape reading is rapid-fire horse sense...The Tape Reader aims to make deductions from each succeeding transaction -- every shift of the market kaleidoscope; to grasp a new situation, force it lightning-like through the weighing machine of the brain and to reach a decision which will be acted upon with coolness and precision"..

Richard D Wyckoff


..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..

Bernard Baruch


..“How many millionaires do you know who have become wealthy by investing in savings accounts?”..

Robert G Allen


.."Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected"..

George Soros


..“Bull markets are born on pessimism, grow on scepticism, mature on optimism and die of euphoria.”..

John Templeton




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