If gold ETF (GLD) drops to the 120 levels during the next month, and gets back to the 130 levels back again, we may see a pullback to the on between the 126 and 124 levels before the end of the year.
Comments
bigrediska
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I made statistics for this pattern. Have checked all the ideas on this site. He gives about 10%of correct signals. I don't understand how you can trade using this pattern?
HCG
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Mh, interesting, 90% wrong? then that means an ENORMOUS chance of winning trades by just taking the opposite direction of the suggestion, right? ... wrong. I don't think your statistical approach was correctly applied neither the way you understood the retracements as those guys suggest. But still, could you spare at least one study you made using this charting stuff? Thanks.