Friday, January 27, 2012

A trend and a half...

I was talking to another trader the other night about the longer term system I am now using and he was interested in what gold was showing on the chart. As you can see below, it shows that the trend has been in place now for 3 YEARS! I would say that the price has feathered the exit point a couple of times within the last year or so but it just shows how trends can persist over a long period of time, and also highlights the folly of selecting a price target for your trades.

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