Thursday, March 25, 2010

TRIX Showing Gold Consolidation is Coming to an End

Another momentum indicator you can use to keep you on the right side of the trade is the TRIX oscillator.
I am using 60 minute intraday data to build TRIX(377,233) and TRIX(233,144). I use those numbers because they are part of the Fibonacci sequence. 

Notice how the TRIX(377,233) is starting to flatten out. Keep an eye also on the TRIX(233,144). It looks like it want to kiss it ... which would imply more consolidation, but it looks like we are nearing the end ...

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