A week ago everyone was cheering as gold and other commodity markets were making new highs. Last week however, things changed as everyone seemed to want to jump through the same door, at the same time, putting a great deal of downside pressure on many markets.
This phenomenon sometimes happens when people have multiple positions in multiple markets in the same direction. When they start to take profits, there is no one left to buy.
In today’s short video on gold, we show one of the clues that was given by this market all the way back in May of this year. The video runs about 4 minutes and will give you a very good idea of exactly what I’m talking about. As you know, we took profits on a 52 week rule on Tuesday around the $1,416 level and we also exited with a daily “Trade Triangle” signal on Friday at the $1,382 level.
I think traders of all skill levels will get a lot out of this short video. As always all videos are free to watch and there are no registration requirements. Enjoy the gold video.
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Showing posts with label 52 week high. Show all posts
Showing posts with label 52 week high. Show all posts
Monday, November 15, 2010
Friday, February 12, 2010
Secrets of the 52 Week High Rule
From guest blogger Adam Hewison.....
Over 30 years ago I learned from a very successful trader, a trade secret I’ve never shared on the web before. In fact, I only shared this trading secret with a few friends during that time.
I learned this trading secret from a trader named Bill… I am keeping his last name private as Bill is a very low key guy and shuns any publicity.
Using his special trading technique, Bill made millions and millions of dollars from his office. Now for the first time, I am going to share with you the exact same technique that Bill used so successfully for so many years. The best part is that this technique is still working more than 30 years after I learned about it. Now it’s time for the next generation of traders to learn Bill’s secret.
Bill didn’t even have a name for this killer trading technique. I named
it “The 52 week new highs on Friday rule”.
Just click here to learn this trading secret and please take a minute to leave a comment and let us know what you think.
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