Learn How To Invest Profitably With Tetrahedron
In a previous article (Update 2), I have shown that after 3 triangles forming a tetrahedron shape, the price will move up. Yes, the triangle did form and the price went up. I made a profit when I sold it on 2 January 2009.
However, I have wrongly estimated the triangle. In the first chart above, the triangle seems too small compared to the other two. Not in balance. Thus, I am revising the third triangle now. Also, another wrong estimation was the expectation that the triangle base would come down lower to below USD800 price region. This didn't happen.
And I went back to Elliot Wave and analysed it again. The Elliot Waves have shown to me that the movement will be on a move up to reach quite a high price within the coming two months.
And I went back to Elliot Wave and analysed it again. The Elliot Waves have shown to me that the movement will be on a move up to reach quite a high price within the coming two months.
All is not gone yet. Yes, we have missed the boat at USD825 or lower level. Price has reached USD898.10 as I write this, but there is still a chance for a retracement.
I know, you could have made about 4% (after minusing the Public Bank Gold Investment Account buying and selling spread difference) within a short time! Michael will be saying "I told you so." Haha. This is one of those times, when we will humbly accept our defeat. Well, there are still opportunities.
I will enter a buy position in full power once the price retraces lower. All my analysis has now confirmed that the market is on an uptrend. Previously I was cautious of buying because the signs were not right.
Who is with me in the next buy?
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6 comments:
I didn't really recommend buy actually, I was just proposing additional views as many different technical analysis can be performed on the same chart, sometimes even give totally opposite signal
I enjoy this a lot and I am with you, so when is the next buy ? :)
can you do short in gold investment ?
Michael, I am enjoying the gold investment and writing about it as well. It's a rewarding investment as long as we do it right.
Thanks too for alternative views. In fact, I had a dream when the price was hovering around USD840-850 level. I dreamt about the number 828. And that morning after I came out from a bath, I saw my digital clock showing 8:28am. And one or two days later the price was hovering at USD825-828 level the whole day. Yet, I didn't buy. I am kicking myself now for the dream was surely a sign from the divine.
I invest in Public Bank Gold Investment Account and can't do short. Perhaps some other online investment or commodities investment can do short.
The next buy, I have two important dates. The 6 February and 27 February based on my date analysis. (Nothing to do with Feng Shui, it's based on scientific calculation.) I will reveal this in my coming book if both of those dates proved to be important dates later.
Ok. I'm with you. Tell me when.
Gong Xi Fa Cai. ;-)
Alright, gold price is steadily coming down now. Get your horses ready.
best time to buy gold now?..how to read the graft? care to share?
Anonymous - please leave your name in the comment. There will be many Anonymous later.
:-)
Anyway, back to your question. Please read my other gold related articles to get more insights on how to read the chart.
http://www.unit-trust-investment.com/search/label/gold/
Please do your due diligence to research more before you are comfortable in buying gold. My advice here is time sensitive. If you read this article days later, the advice may not be valid anymore.
The best time to buy is always at the bottom of the triangle. However, readers bear their own risk if price does not go the direction we intend it to.
Nevertheless, it is difficult to explain everything here. Reading the chart involves other methods not listed in this article. There are more techniques applied to make a decision to buy and sell.
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