There are just too many positive divergences happening for me not to ink the final low is in, and yes, it didn’t make it to the $1050 level so I was stopped out when the gold price fell while my target stock was rising.
On a whole host of charts I was watching, gold related entities rose while gold fell. This was the opposite of what has been happening for the last two years. On the RSI, the MACD, the STO and in shares themselves indicators were up while gold put in a perfect textbook double bottom at $1182. The falling trend line has also been broken with the move up to $1228. The timing was also perfect for a major low that will stick for months to come.
It was gut wrenching to see my target company shoot to the sky yesterday while I was on the sidelines after having got in a mere 10 cents from the low. I have missed on on a LOT of capital gain. What to do?
One thing I have learnt is never to chase a market that got away on you. This is for rookies and I have done this too much in the past. It is taking every ounce of mental energy not to jump in. I am currently doing a training course with Greg Secker before starting forex trading later this year and the information is brilliant. It showed me what I missed in the charts when I sold out.
I will keep you posted.