On 24 Feb 2020, 1155am, I emailed my Clients my latest post titled 'My colleagues call me Thomas the Train!'.
Below is the full transcript of my write up:
'Dear Clients Reference to my bullish post on Gold dated 18 Jun 2019 - https://www.facebook.com/whatsyourTA/posts/658221364642380, I said then, '..once the said resistance zone (1370+/-) is taken out authoritatively, don't forget to onboard this gravy train!' On 4 Nov 2019, I further gave a follow-up post aptly titled 'That Gravy Train Update' - https://www.facebook.com/whatsyourTA/posts/753910408406808.
In this post, I said, 'Looking ahead, Gold price has now formed a bullish (red dotted) Descending Wedge Pattern that usually resolves to the upside. My original pattern implied target from the 18 Jun post remains at 1700.'
As of Friday (21 Feb 2020), spot gold closed at USD1643, 57 points away from my target USD1700.
You see, USD1700 was my original target since years back - you may wish to check out my following posts dated 2018:
www.instagram.com/p/BjSL5ajAaMt
www.instagram.com/p/BjSMED1AScm
With the current bullish Pennant Pattern formed between 23 Dec 2019 to 17 Feb 2020 (blue triangle), the new pattern implied target is now pushed to 1717.
However, note that 1717 is possibly the minimal target I'm looking for. For the uninitiated, you must understand that when the Precious Metals Complex truly gets moving, it is often violent and doesn't leave much pullback for you to get on board.. Now you know why my colleagues call me Thomas the Train! Choo Choo.... *The simplest way to have exposure to Gold is via SGX's listed Gold ETF US$. I'll likely be posting another update soon on SPX, SSECOMMP & STI if time allows. Don't miss it! Live Long & Trade Well. Thank you & rdgs Thomas Ng, CMT Principal Trading Representative 首席股票经纪 www.thom-ng.com www.facebook.com/whatsyourTA #plsreaddisclaimer #chartforillustrationonly #bullishcontinuationpatterns #pennantpattern #Gold21feb20 #Gold1700 #thomasthetrain #choochoo #wytant #livelongandtradewell Charts: tradingview Image: www.strasburgrailroad.com/…/15-fun-facts-about-thomas-the-t…