As the Dollar falls apart and Treasury yields expand, Gold is back on the rise (has been since testing, twice, it's 200-MA).
Here's TLT accomplishing it's "Death Cross"The U.S. Dollar index approaching a 50% Fibonacci retracement (from March '08 lows to March '09 highs). While a "Death Cross" here looks inevitable.Looking at GLD's weekly chart; October '07 we had a pennant pattern that completed it's measured move coming into the first quarter of '08. Currently it looks to be expanding out of a long-term flag pattern. If that's the case, a possible measured move would bring prices to new highs, around the $115 range.Here we see it on the Daily chartWith that all said, AU is at it's base of previous resistance.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.
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