How many of you spotted the 'Three White Soldiers ?
This usually implies the down-trend will continue... Why ?
From Bulkowski's Encyclopedia Of Candlestick Charts: thepatternsite.com/T...eeWhiteSoldiers.html
" Look for three white soldiers that appear an an upward retrace in a downward price trend. Expect the downtrend to continue" p.799
Nice GraveStone Doji candle on the weekly near the 78.6% retracement.
Looking at gold, the last COT report is still bullish for gold with the Commercials Net Short at the same levels as last mid December.
If we look at the COT Index for the commercials, we are at a reversal level near 20 ...
s7.postimg.cc/srfsg7..._INDEX_050118-01.jpg
This usually implies the down-trend will continue... Why ?
From Bulkowski's Encyclopedia Of Candlestick Charts: thepatternsite.com/T...eeWhiteSoldiers.html
" Look for three white soldiers that appear an an upward retrace in a downward price trend. Expect the downtrend to continue" p.799
Nice GraveStone Doji candle on the weekly near the 78.6% retracement.
Looking at gold, the last COT report is still bullish for gold with the Commercials Net Short at the same levels as last mid December.
If we look at the COT Index for the commercials, we are at a reversal level near 20 ...
s7.postimg.cc/srfsg7..._INDEX_050118-01.jpg
