The gold had a good run up since its leg up phase since early Sept 2007 up till Mac 2008.The sideways trading range that started from middle of May 2006 to late August 07 took gold more than a year waiting period to see it broke its trading range .Did you see the price action when it broke to the upside on early Sept 07 and did your see the price range? Please study the chart and the notes that I had posted.
By looking at this latest gold chart if you are having only this tools, it pays to be a midterm to long term investor if you are investing in gold bar.
But for active trader who are more equip with all the tools and sophisticated software trading gold especially with e-Gold, they had been paid handsomely.
The graph that I showed above is the latest weekly gold price in RM. Isn't it not better to buy it on the breakout, though the price is high but the probability of being right is higher.Isn't it frustrating waiting it during its sideways movement watching it up and down without any significant price change. Isn't it better during this time to put your money in Fix deposit that can earn you interest? Usually during this period the Pros with large amount fund accumulating without we the novices or beginners ever noticing.
What in store for us for next week ?Only God knows?
But with little knowledge that have , we see though gold had showed weak internals but the ruler is saying that the trend is still up. You have to watch it closely next week if the TA has change .IF next week the TA indicator change and your ruler had seen break down trend line its a warning for those that are mid term investor to be on the look out.
But for long term investor if they would not like to spend their bill buying lot of Panadol need not to worry as The bull in gold is not over.It has many leg up phases to go. Stay tune......
In summary please decide what type of investor are you , are you are risk taker,what type of arsenals you have in your war chest then act accordingly to who you are?
Study your self and decide what type investor you are FIT TO?
Until next posting ..thanks for reading
