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Wallace
Registered: Aug 2003
Posts: 3056 |
04-30-12 11:20 PM
wondering if gold's new uptrend is forming the right side of an inverted H&S, or if it will
make significant higher highs, at least breaking the $2,100 level, maybe going into the
mid 20s or higher
 gold m.gif
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murray t turtle
Registered: Dec 2001
Posts: 6300 |
05-17-12 03:14 PM
Mr. Wall ace;
Its easy easy to call gold,GLD a bear trend, bear market-dipped below$1544 area,
bear signal 50 day moving average, so many weekly lows, on 1 year chart.
Looks like its trending higher, open & close on 1 year chart;
3 year long term trend................................................. Not a prediction JPM could short GLD, gold like they did silver. That could be bearish first[1st].
But I like what Art Cashin said ;
the shorts help fuel the rally[Actually gold, GLD is in a bull market;but none of this wisdom is prediction ]
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Wallace
Registered: Aug 2003
Posts: 3056 |
05-17-12 11:41 PM
Mr Tutt-le, errr excuse me, Turtle
unfortunately I'm currently selling the bottom of trends and buying the tops as my
question reflects
attached is an updated chart with another question - will gold drop to $1435 ? —
have I just made a strong Buy recommendation ???
gold m my1712.gif
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Wallace
Registered: Aug 2003
Posts: 3056 |
05-18-12 04:46 PM
dolemitettu, the charting/order entry program is MetaTrader 4 from FxPro, Cyprus
MT has 3 channel tools, Standard Deviation Channel - white lines, Linear Recession
Channel - green lines, and Equidistance Channel which I don't use
I usually use the LC/HC of a wave to draw the channel from, but there's other ways of
drawing channels if the throw isn't covering the price formation, go back a wave or two
and draw the channel from there, etc
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murray t turtle
Registered: Dec 2001
Posts: 6300 |
05-18-12 09:08 PM
Quote from Wallace:
Mr Tutt-le, errr excuse me, Turtle
unfortunately I'm currently selling the bottom of trends and buying the tops as my
question reflects
attached is an updated chart with another question - will gold drop to $1435 ? —
have I just made a strong Buy recommendation ???
===========
Sure, it could;
but on an uptrending 1 year chart,
longer trend periods uptrending -- the uptrend is the highest probability.Not a prediction
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