Nov 6 2014: GOLD opens Long Legged Doji on 4 year low, Breaks Down

[presence]

What was support is now resistance





http://www.investopedia.com/terms/l/...egged-doji.asp

INVESTOPEDIA EXPLAINS 'Long-Legged Doji'

Long-legged doji candles are deemed to be the most significant when they occur during a strong uptrend or downtrend. The long-legged doji suggests that the forces of supply and demand are nearing equilibrium and that a shift in the direction of the trend may be coming.

[DFF]

If a long-legged Doji popped up a daily or weekly, or certainly monthly chart, I would pay attention to it.

But frankly, on short-term time span, this candlestick, in the bigger picture, means little if anything.

I do agree though that gold is most likely headed lower; probably to around $1000 an oz.