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  • CruisinForGold CruisinForGold Apr 6, 2011 4:06 PM Flag

    Chartists Warning..Please Read Part IV

    Chartist..,

    The 23x area I agree, hard to tell now if it gets to the 230-231 part. I don't think it get's that low now - I think it most likely holds the gap on 28 March at 233.57 open print.

    The safest short/put covering position is the 235.68 level from the opening high of 14 Feb. This is the safer area to cover a short/put position because this was the reversal point of the past peak.

    As for the core short position, if you've set a close in stop from where you shorted it - you will be covering by next week.

    I agree that short-term TA indicators are suggesting the pause/pullback scenario. Longer-term TA indicators are suggesting 52-week highs on a closing basis still dead-ahead. Note the volume today - it wasn't even suggestive of a blow-off variety - i use a 5 bar simple MA that it barely got across today.

    So be nimble, I'm worried about your financial health :^).

    To the other longs out there, prepare your buys on the target area's suggested - you'll be glad you did :^) There's a parabolic rise in your future!

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    • Thanks Bud. I appreciate your input. But if you're worried about my financial health you should follow my trades on the ICO board. Not like this type of advanced trade. These are more shorter term. I always post ahead of time and always post the results a day or two later. Check it out.

 
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