gold 2 bottom near 1711.48

gold 2 bottom near 1711.48

Predicted 2011-8-12, 830AM EDT.

$1711.48 next gold buy target using Jim Sinclair method

SOURCE: http://squareofnine.blogspot.com/ about Jesse Livermore, the person Jim Sinclair sighted when he talked about the basis for 1764 FOR MAJOR TREND CHANGE FOR GOLD FROM UP TO WAY UP:

Next trend indicator down comes from:
* SR (approximate square root of closing price at an earlier date). For gold I'll use SR = 42.37, approximate square root of $1795.40 gold price 2011-8-10#

MINUS (-)...

* 1 since we want next trend indicator down

SR - 1 times itself = next trend down indicator.
(42.37 - 1 = 41.37) times (42.37 - 1 = 41.37) = 1711.48 = next down trend indicator.

TIMELINE:

1795.40: latest closing high, 10 aug 2011
1711.48: next trend indicator down closing low before going up again, dd mmm yyyy

# Source: http://66.38.218.33/charts/historicalgold.html
DAILY GOLD CHARTS
Choose August 11 2011
Click on "View Charts"