http://www.ino.com/info/645/CD16/&dp=0&l=0&campaignid=3
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Following the gold market as we do here at MarketClub, it was amazing that nobody, and I mean nobody, was bearish on this market. This always creates a problem as the markets tend to reverse when everyone is on one side and there's no one else left to buy.
Another tip-off was on Fox Business News and also on CNBC indicating that gold was going to hit $1400 almost immediately. Well after Tuesday, we know what was to happen to the price of gold. If gold were so strong, should it really have gone down almost $70 in 4 days?
This is where technical analysis and Japanese candlestick charts really shine in my opinion. What happened in gold was a classic candlestick formation that any trader, whether they trade gold or other markets, should be aware of.
In this short video, I illustrate how this formation occurred and how it was confirmed the next day - and I don't mean on Tuesday.
http://www.ino.com/info/645/CD16/&dp=0&l=0&campaignid=3
I also have a free candlestick book that I'm making available along with this video, be sure to stay tuned at the end of the video or visit:
http://www.ino.com/info/646/CD16/&dp=0&l=0&campaignid=21
As always there is no need for registration and the video is with our compliments.
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
