Markets are moving back and forth so fast
it's almost impossible to post reliable charts and
comments. The possible H&S pattern is just to
warn you what might be coming. The right shoulder
has not formed yet. The current little blue up flag resolves
down and the formation looks weak and toppy.
We could get a sudden sell off any time as gold is not
moving up quick enough to satisfy traders, so they get
tired waiting for a good rally and just sell, creating a
new opportunity to buy in lower.
Ultimately, gold is going much higher, but in the short term
it's going to be a battle all the way, which I love because the
volatility makes for great trading. I just don't like getting caught
long when the market takes a dump and having to wait for my
position to finally go positive, as I lose lots of opportunities to trade
while waiting.
I've spent over five years believing Jim Sinclair, and have hung on
three years in a row to tremendous profits, only to get wiped out
just before the big end of year run up.
This market is either for CASH BUYERS who hang on for the long term,
or TRADERS who like to make lots of money both up and down in the
interim. This market is only for the highly experienced (those who watch
every tick for years) and know what should most likely happen from minute
to minute. This market is just too convulsive to hang on to a profit only to see
it disappear over and over again, or go into loss just because you didn't take it
while you had it. More on this later
