Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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Nov 21 4:00 PM EST

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To: GROUND ZERO™ who wrote (5543)	6/9/2010 1:56:47 PM
From: Patrick Slevin	3 Recommendations Read Replies (1) of 219152

Gold, One of the indicators I look at involves Divergence in either Momentum or MACD, So when Gold ticked a new High the other day I stayed out because both indicators were much lower than at the last High on May 14th. This is not to say that Gold cannot move higher in spite of Divergence, just that it's a warning signal to me. Add to that the question of the XAU and GDX failing to move in tandem with the Price of Gold. Naturally these observations take into account only the potential for a longer, sustained move. It's the way I prefer to trade Gold. On the other hand, the trade for me is in the Swiss Franc, which oddly enough is considered to be a play on Gold as opposed to the other currencies. The Franc gave a clear Divergence Buy signal late last week, and I took it Long on Monday.

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