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

  1. #1

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

    What was support is now resistance


    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.

    Last edited by presence; 11-06-2014 at 09:11 AM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

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  3. #2
    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.

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