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Strategies & Market Trends : Strictly: Drilling II
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To: Paul Shread who wrote (258)8/21/2001 10:47:43 AM
From: Arik T.G.  Read Replies (2) of 36161
 
Paul and iso,

Enjoyed your exchange and I think you're both right.
Gold just completed a 5er from the July 31st medium term bottom, which
1. Proves the trend is up
2. Needs a counter trend correction.

So far the correction is very shallow (same as other anti-Dollar measures such as the Euro) which supports the strength of the trend. But it needs more time. For a 12 trading sessions trend I'd expect at least 3 days correction (correlates to Donald's three days pattern).
Looks like one more down day before the trend resumes.

ATG
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