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
I posted it for someone who wanted to see the 3x1. Not much to say except its a 6 month rally so it could be a decent top.25% Gann resistance worked,so watch that if it comes back up and watch to see if the 2x1 holds.And watch the 1 year cycle off the June low (not shown)
The mid 1500s are 'best bear' case, on the weekly charts..indeed, time frame would be late july/early August.
ReplyDeleteI find it hard to believe those levels are viable whilst QE continues though.
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Bears need a weekly close <1600, but by then, thats half of the decline anyway...urghh.
yes probably right but it feels like things are stirring in the currency world and maybe that is going to cause some disruption ?
DeleteRamble a little about your interpretation of the chart please.
ReplyDeleteI posted it for someone who wanted to see the 3x1. Not much to say except its a 6 month rally so it could be a decent top.25% Gann resistance worked,so watch that if it comes back up and watch to see if the 2x1 holds.And watch the 1 year cycle off the June low (not shown)
Deleteeg watch to see if June cycle is a double top or if it makes a low then etc
ReplyDelete