This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj
Monday, 28 February 2011
another (belated) thought on gold is that this could be seen as a 4th attempt to break 1420-30...Gann's rule 4 of states that 4th attempts are usually successful
Crude broke the upper bollinger band and tagged major fib retracement level though clearly it is a hostage to political developments the next few weeks
neo-wave count from Columbia.Columbia's latest post also has a good discussion of the precarious technical state of the US dollar
http://elliottwavetrendsandcharts.com/wordpress/2011/02/27/sunday-outlook-2/
Mike Breaux uses crosses of the 21 and 34 dema's to confirm trend ...reversal not confirmed yet by this system but note there are confirmations in the mining stocks
50% retracement of this range looks like major pivot so likely an important/valid range
The 180 td cycle on 10th March comes in 1 day after 9th March 2 year anniversary of the low,so will likely be important turn...a low if the market is falling or a high if it is rising ?
Another gap down...I am focussing on this stock because the setup was so perfect,a lovely alignment of Gann and elliott waves,so far it is performing to script
the triple top scenario produced a milder decline than anticipated,not that surprising given the Middle East developments and the weaker dollar.Here is a neat chart from Binve