2lalit
Long

The First Flight, Which Hasn’t Made The Youngest Panic Yet

FX:XAUUSD   Gold Spot / U.S. Dollar
149 0 4
Although in the last trading session on October 15, 2014, the first flight of The Youngest closed by bad weather at an altitude of about 1,250 feet, and then had to maneuver down to about 1,238 feet, but flying in bad weather can be overcome by flying above the average 1,241 feet. If I may say that, this is not so bad for the Youngest.

WHY ?
Now let's look at the comparison again, between The Oldest and The Youngest in the chart above in Weekly Time Frame. Please look at the legend of a red and black arrow. Inside The Oldest, since $1,525 broke down, the price is never touched or closed above $1,525, until finally prices fall to $1,180 Low in June 2013. But inside The Youngest, in yesterday's session the price can touch and closed just above $1,240 (This is a renewal of my previous analysis of "The Youngest Are Undergoing A Fit And Proper Test" (https://www.tradingview.com/v/kvD7BkSh/) and "The First Stage Of Fit And Proper Test Runs Very Tough (https://www.tradingview.com/v/Fy8WiidU/).

My attention is continue concentrated to The Youngest, because The Youngest was the only formation that gives the message that will be a change in the trend and the message that the price is not expected to fall too far, up to about $1,000, so I have to keep abreast of every trace its departure.

Now at least, I have found the characteristics of the twins. Looking at to their posture, and other important dates which is labeled, almost all of them have something in common but it has different purpose. Because I am a newbie and just found this formation throughout the life of my trading nascent, so I will see whether it will be rational or irrational in the next few months, at least until the month of December 2014 or March 2015.

On the current position, If there is a maneuver again, maybe it is a transit point for refueling for the next flight and as usual retreat, which is estimated at around $1,225, $1,212 and worst $1,205 (A throwback expected at around $1,230). If a throwback occurred the expected target is around $1275/85 in this week, and if it reach then the Fit And Proper Test for the second phase, tentatively scheduled in next week.


From The Desk Of A Newbie
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