Sometimes, simple pattern and price analysis is all you need to identify the probable trend of a market, what should be the maximum time and/or price targets and what the market must do to confirm or invalidate a new trend.
Almost 30 years after I published (what I believe) was the first home study trading course, The W. D. Gann Home Study Trading Course which integrated Gann, Elliott and Fib trend analysis and trade strategies, I continually try to simplify the analysis and trade strategies. In the early days of my trading career, all charts were hand drawn so things needed to be relatively simple. You can learn a lot about support/resistance, buying/selling power and simple chart patterns when you hand draw charts.
Below I’ll take a look at two key markets with just one chart each with detailed explanations of trend position and trade strategies with data as of the date this article was prepared (Nov. 29, 2017).
I also have a link below to a 45 minute video that was prepared over the Thanksgiving weekend with detailed forecasts and trade strategies for several of the major financial markets including stock indexes, bonds/notes, precious metals and Dollar/Euro. It is free to access. It is an education video as much as a forecast video, so even if you read this article or view the video weeks or months later, you will learn about Multiple-Time-Frame momentum, time, price and pattern analysis and trade strategies that you can apply to any market and any time frame in the future.
Gold Daily Chart
The assumption is gold made a major low in Dec. 2015 and is only in the early stages of what should continue to be a major bull trend to well above the July 2016 high. The video referred to below will give you details why I believe this is the case.
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