the box... - thursday, page-6

Here's an update of my recent AUD/USD chart:

And here's the GLD chart:

GLD is now into a zone where there are virtually no obvious S/R levels.

It's now filled a big gap but gaps don't mean much in a Gold chart. Gold is traded virtually 24 hours a day. So a gap in a particular country's chart of Gold only represents the trading that went on in another part of the world.

Because of this there are gaps all over GLD chart. BHP is somewhat similar. A chart of BHP in Australia has gaps all over the place. But BHP has listings in Australia, England and South Africa, plus it has ADRs in America. So that results in lots of gaps in the BHP chart in Australia.

Below is a chart of the continuous trading that takes place in spot Gold around the world. (Kitco: 3-Day Chart) You can see there's only a tiny window before 18.00 NY time, when no trading occurs somewhere in the world. So Gaps on a particular country's chart don't mean anything.

Redbacka