The picture shows the intermediate decline in 2008-2009 after gold came out of the bear market and printed the first phase of its bull market.
Little bit different. Not have to be exactly the same.
Bear market ended in Nov.2008. Bull market started, initial rally Nov.2008-20.Feb.2009.
After that came an intermediate decline .
-The intermediate decline lasted for 2 months.
- During the decline gold made close to a 50% pullback of the initial rally :(1002-681)*0.44=141$
- We could be today at 04.03.
- We had a bounce in the middle of the IC decline
- Intermediate decline lasted for 2 months (40 trading day)
- We bounced from the 100 EMA
Little bit different. Not have to be exactly the same.
Bear market ended in Nov.2008. Bull market started, initial rally Nov.2008-20.Feb.2009.
After that came an intermediate decline .
-The intermediate decline lasted for 2 months.
- During the decline gold made close to a 50% pullback of the initial rally :(1002-681)*0.44=141$
- We could be today at 04.03.
- We had a bounce in the middle of the IC decline
- Intermediate decline lasted for 2 months (40 trading day)
- We bounced from the 100 EMA
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In the blue box there is the bounce we are waiting for
to reenter shorts or adding to the short position.
Notice how tricky it was in 2009. They will not let you to hold your longs in
this little bounce easily.
They took out the stops in 2009 with a 70$ (!!!!) daily move. AT that price it was 10% move in a day.
I don't think any retail long survived it.
to reenter shorts or adding to the short position.
Notice how tricky it was in 2009. They will not let you to hold your longs in
this little bounce easily.
They took out the stops in 2009 with a 70$ (!!!!) daily move. AT that price it was 10% move in a day.
I don't think any retail long survived it.