25th, February 2010
From special guest blogger, Adam Hewison.
It’s been about eight days since we did a video with the gold market chart analysis. Given the market action today I thought I would look at what is causing the downward pressure in this market.
If you did not watch my last video on gold, I strongly recommend you click here to watch the video titled “Five Reasons Why Gold Will Not Make a New High This Time” as it will give you a bigger picture of how we see this market playing out in the next 12 months.
In today’s short video we look at an indicator that we have not talked about before in any of our videos. The indicator, which is an overlay on top of the chart, is called the Donchian Channel System.
Richard Donchian, who has since passed away, came up with this indicator in the late ’40s. The reason why I like this indicator is the fact that it has successfully stood the test of time. I think you’ll really enjoy seeing how it can help you make money in the gold market.
Also in this video, I point out one very important cycle that is in play now and where I think the next tradable low is coming into this market.
Good Trading,
Tom
Currency Market Updates by Tom Nadir
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