A Classic Pattern in Gold – Video

Jul 10, 2008: 10:19 AM CST

According to Adam Hewison of Market Club, Gold prices are showing a “Classic Pattern” that we should take note.

He has prepared a short video from his Traders Educational Whiteboard Series entitled “A Classic Pattern in Gold” which walks you though his analysis and shows some of the capabilities of the Market Club charting software and strategies.

Hewison states:

(Regarding whether the recent action is a longer term pullback/retracement or reversal) “… depends on how the European Banks handle some of the problems they’re going to face in financing.”

Hewison takes us through the longer term, monthly trend down to the daily chart and reveals a most interesting pattern that I missed in my analysis – it’s a pattern that I frequently overlook because I’m not used to ‘thinking in reverse.’

He then describes the pattern and how the price is expected to play out, including possible price projection targets.

Here is an example of the “Weekly Chart, which we use for Trend Analysis” from the video (links to video):

The final chart walks us through the exact pattern, trendline, and price projection and is very interesting and helpful analysis.

For a membership to the growing Market Club service, visit the homepage (link) and browse around the “What You Get” page and testimonials.  I solidly stand behind the service and have benefited from using it both as a confirmation and idea generation tool.

Thank you Adam and staff for making this video available to us.

Comments Off on A Classic Pattern in Gold – Video

Comments are closed.