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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: Rashid Garuba who wrote (19598)12/16/2000 10:22:53 AM
From: TATRADER   of 59879
 
GOLDEN GIZZARD WEEKEND UPDATE
The golden gizzard indicators are still short-term bullish for gold stocks..Our next target areas to sell will be the 57.50-58 area on the XAU..Our CCI 5 period is at -3.32 and our fast stochastic 8 period at 51.451, still giving a short-term bullish signal..The XAU looks to be forming a lovely Head and Shoulder bottom. We have the left shoulders and head and are now in the process of building the right shoulders..I am looking for a spike to the 57.50-58 area, then a sell-off, and consolidation in the 55-51 area for approximately 60 days or less..After the consolidation period and formation of the right shoulder, our next target will be 66 on the XAU....Pattern here is 42, base of head and 54 top to left shoulder...Difference of 12..Add 12 to 54 for target of 66...
Buy area and present targets on favorite 3
AEM-In buy area of 5.87-6.06
NEM-hit our target buy area, sell now in the 19.00- 19 1/2 area
PDG-never hit target buy area, so sell into the 11.00- 11 1/2 area...

GGSHORT-TERM-BULLISH(note this indicator changes regularly)
GGLONG-TERM-BULLISH
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