Predicting gold and silver prices with trendlines and S/R!

1a2b3cppp, I'd like to buy your course and make tons of easy money. Do you accept paypal? You know what, never mind. I'll just give you my MasterCard number right here: It's 5401... hold on, I have to take an important call from my good friend in Africa. He's royalty, a devout Christian, and has this amazing secret investment opportunity for me!

 

Is this an inverse H&S?

 

Naz,

My Sincere Apologies Sir


Never occurred to me that the op’s intent was simply an exercise in mental masturbation

LGCM

(formerly RN)

 

If you follow my journal you know I don't believe price can be predicted.

I figured this thread would be fun to look at tendlines and see if they do any predicting, and maybe someone who knows how to use trendlines profitably and has a history of making real time calls (as opposed to someone who posts after the fact charts and see "see, trendlines work!") could shed some light on why I'm doing it wrong.

 

Silver dropped quite a bit this morning and bounced off this trendline!



Gold might bounce off a previous R line. It hasn't fallen as much as silver today:

 

trend lines have been proven not to work...

you see it on the 2nd test.....then confirm it on the 3rd...

then it's too late as you buy on the 4th test......d'uh....

and you call it "support" after it went below your line by a good %.

forget trend lines....

if they really work, more people would be profitable trading.

and they are not....

 

BT

I disagree – respectfully of course

===============


I never said lines – horizontal / diagonal or vertical – don’t work

I said they don’t predict

I use lines

Anyone entering on a 4th test of something – isn’t reading price – or – they "better be" trading choppy/ ranged PA

jmho
RN

 

You just need to add a proprietary indicator to your chart to tell you when the lines will work or not. The type of indicator I am talking about is not the standard indicator that comes with your chart package, but one that actually does not lag price.

For example on my oil trade today, overall oil was in a down trend, but it came back up to a resistance level. Now this is not a standard resistance level drawn with a line but a variable mathematical resistance level.

Next, my magic indicator told me that oil would fall back down. So I then watched for awhile, and then went short with real money and made a profit. I used stops and targets.

 

Until the next time where you`ll lose your pants with the same tactic.

 

Predictive techniques remain amiss, without this, one eye remains closed, and you are left with an incomplete system.