wooshka, page-38

Chalea, it bounced off its lower trend line - twice before having a false break out. It opened right on its trend line, and went down and then straight back up. On a candlestick chart, its quite ok to ingnore an intraday false break out. No chart is bullet proof and a lot of them are wrong. Gold could well have broken down out of that lower trend line and i can almost guarentee that if that happened, it would have triggered an even bigger sell off. A good chunk of investors follow the charts. If you follow the trend, then you should also follow the charts IMO.

Have a look at the top trend line of the gold daily bar chart and tell me that there isnt a clear line drawn there that market respected - 3 times!