The gold had a good run since its leg up phase since early sept 2007 up till mac 2008.The sideways trading range that started from may 2006 took gold nearly 1 year waiting to break its trading range . The leg up phase now seems to lose momentum.
The graph that I showed above is weekly gold price in RM. Isnt it not better to buy it on the breakout, though the price is high but the probability of being right is higher.Isnt it frustating waiting it during its sideways movement watching it up and down without any significant price change.Usually this the time the PROs with large amount fund accumulating without we the novices ever noticing.
The leg up in gold seem to be fatique and we will wait for the next leg up to prepare us for the next entry.The bull in gold is not over.It has many leg up phases to go. Stay tune......
In summary stick to fundamental first the time your entry as good as possible
