I'm not a TA chartist but
Posted:
Tue Aug 09, 2011 8:53 pmby 68Camaro
if I was, I might say that Gold has formed a symmetrical triangle pattern
http://en.wikipedia.org/wiki/Triangle_(chart_pattern)indicating a big move soon to either upside or downside.
Looks like it might happen tonight. Going to bed - will see what I find in the morning. (A sort of present to be unwrapped in the morning!)
Re: I'm not a TA chartist but
Posted:
Wed Aug 10, 2011 9:57 amby 68Camaro
And by mid-morning it looks like gold is trying to work a break-out to the high side. Europe crashed at end of their day, and Dow is crashing again today. I think we've got a break-out pattern on Gold further to the high side. We could see $1800 gold before end of day.
Re: I'm not a TA chartist but
Posted:
Wed Aug 10, 2011 11:16 amby neilgin1
gee whiz! 30 years in the markets, and i have never seen anything like this. go check the futures that are up, obviously the PM's, but wheat is up, corn was up a titch, last i looked Crude was holding, but Gold is just MOVING, that's no bubble, that is BIG MONEY getting scared, and ramping in, and finally Silver's moving too.
like i keep saying, it might NOT be the end of the world, but it sure FEELS like it...lol.
i would bet all the money in my pockets, that President wants out, in his heart of hearts, that secret place we all have, he is going to do everything he can, to a be a one term President. and a lot of you might go "yippy!", but i havent seen one Republican outside of chris Christie, who's worth a damn..and now you got the latest GOP entry, who doesnt want to be the Commander in Chief, he's vying for the role of "Pastor-in-Chief"....thats just what we need, a nice theocracy...oh boy.....note to self, next purchase....Utah Shelters Systems, basic bomb shelter model...i can stash my box of Bibles down there!
Re: I'm not a TA chartist but
Posted:
Wed Aug 10, 2011 12:47 pmby 68Camaro
We're still in the early stages of a tipping point. We haven't gone fully unstable yet (no recovery from that, and by the time you realize it - too late), but we're still heading in the wrong direction at the edge of a cliff.
Re: I'm not a TA chartist but
Posted:
Wed Aug 10, 2011 5:36 pmby beauanderos
68Camaro wrote:if I was, I might say that Gold has formed a symmetrical triangle pattern
http://en.wikipedia.org/wiki/Triangle_(chart_pattern)indicating a big move soon to either upside or downside.
Looks like it might happen tonight. Going to bed - will see what I find in the morning. (A sort of present to be unwrapped in the morning!)
I'm glad we have the talented Brother Rich at the helm, to help us avoid any icebergs ahead.
Appears to be clear sailing for the foreseeable future
Re: I'm not a TA chartist but
Posted:
Wed Aug 10, 2011 9:50 pmby 68Camaro
Happy to be able to be lucky, one little time; a minor victory when the charts happened to align just right in a classic fashion. Just don't ask me to predict tomorrow!
Re: I'm not a TA chartist but
Posted:
Thu Aug 11, 2011 7:50 pmby fb101
Now if the comex would just stop changing the rules mid game............
Re: I'm not a TA chartist but
Posted:
Thu Aug 11, 2011 7:58 pmby 68Camaro
fb101 wrote:Now if the comex would just stop changing the rules mid game............
Well, margin call changes are part of the scene. This one wasn't unreasonable, actually. And the price has survived it remarkably well. But it does cause a reset on any trends, as changing the rules has to create a discontinuity in the charts.