The #1 Reason Why Gold Collapsed
October 20th 2010 17:26
Another tip-off was on Fox Business News and also on CNBC indicating that gold was going to hit $1400 almost immediately. Well after Tuesday, we know what was to happen to the price of gold. If gold were so strong, should it really have gone down almost $70 in 4 days?
This is where technical analysis and Japanese candlestick charts really shine in my opinion. What happened in gold was a classic candlestick formation that any trader, whether they trade gold or other markets, should be aware of.
In this short video, I illustrate how this formation occurred and how it was confirmed the next day - and I don't mean on Tuesday.
I also have a free candlestick book that I'm making available along with this video, be sure to stay tuned at the end of the video or visit:
As always there is no need for registration and the video is with our compliments.
All the best,
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