Goldtent TA Paradise

ABX : A STUDY IN PERFECT CHARTOLOGY

1. DaveintheUK says:

   August 1, 2015 - 11:54 am at 11:54 am

   Hi FullGoldCrown,

   Great chart.

   Do you see gold as likely to follow Barrick (and the Japanese Yen) into annihilation mode?

   I was thinking it as possibility given the similarities between the charts in gold and the Japanese Yen (which broke down last September in quite a spectacular way).

   However, miners like Agnico-Eagle and Randgold are just about holding support at their lows as of end of July 2015:

   http://stockcharts.com/freecharts/gallery.html?s=aem

   http://stockcharts.com/freecharts/gallery.html?s=gold

   Franco-Nevada had remained in its uptrend until it stumbled recently:

   http://stockcharts.com/freecharts/gallery.html?s=fnv.to

   Gold meanwhile is slipping but not yet fallen altogether out of its falling wedge of the last year and a half.

   http://stockcharts.com/freecharts/gallery.html?s=%24GOLD

   However, is it significant that the $1180 gold low held twice in 2013 and gold was actually in a descending triangle in late 2013 which has since failed? I can’t quite make up my mind on this, whether gold is going to be a middling performer in this universe of related investments somewhere between the carnage of Barrick and the not so carnage of the stronger companies that are holding support.

   The question still occurs to me as to why gold did not break down big time at the end of 2014 for instance.

   Looking at Barrick and the Yen:

   http://stockcharts.com/freecharts/gallery.html?s=ABX

   http://stockcharts.com/freecharts/gallery.html?s=%24XJY

   they both has spectacular breakdowns around last September but the Yen has not yet had its second crash; it is in another consolidation but slipping as it did in 2014. Of course both of them also has massive legs down in early 2013.

   These bear market charts sure do have a lot in common!

   Kind Regards,
   DaveintheUK.

2. Mark says:

   August 1, 2015 - 4:21 pm at 4:21 pm

   Here’s my chart of ABX I posted on Lara’s website forum in late April suggesting (strongly) that people sell resistance and get short. 99.9% of the responses I got were folks flaming me. This was the period going into early May that I got short aggressively and it paid off big time. I was able to keep a reasonably tight stop because we were smack on resistance and I would know very quickly if I was wrong.

   http://schrts.co/MElzPW

3. Fullgoldcrown says:

   August 1, 2015 - 9:37 pm at 9:37 pm

   Daveuinthe UK…Yes I see Gold giving it up soon and testing just above 1000 where there will be a mad rush to cover shorts

   Then Down to a final bottom hopefully

   Mark…great call…..great chart….great trade…in spite of the 99%

   as a mater of fact…because of them