Loading ...JSKaui : Re UUP Weekly
Why does Rambus draw the lines he does . Because he is Rambus that’s why. Chartology is an Art as well as a Science
Rambus has a knack for picking out the pertinent patterns from a sea of insignificant ones. I know that sounds contrived but thats’ it . I have followed his charts pretty much daily since 2007 (10 years now) ( I know…get a life Fully)…and have seen his charts time and time again play out…and on occasion when they don’t, he can switch in an instant .
Anyhow I appreciate the question and this is the chart line , plus a couple more I think you are speaking of
We are stretched to the max at this point in time. If this closes appreciably below this point on this weekly candle
The Dollar Bear will look very likely.
s
Thanks for another great chart to follow!
Thanks Optional…that comment got me looking again…I added a new line and lo and behold…another Right Angled (90%)
Triangle….this one already broke out UUP 🙂
Now a critical back test. Right exactly at the Apex.
Mr Market is an amazing geometrist.:)
https://stockcharts.com/h-sc/ui?s=UUP&p=W&yr=5&mn=0&dy=0&id=p35664330151&a=524328180
The MA 13/34 just crossed. Last time it cross for a down move was March 2016.
Fully, thank you for your explanations as I know relatively little of Rambus chartings. I read what is provided for public consumption and that is as far as it gets for me. I like to learn where ever I can and I am a graduate from the “School of Hard Knocks” where at best I am a B student, LOL! In regards to the chart you posted if you draw your upper trend line from the March 2015 high to the late December 2016 high with the lower line drawn as you have it then you now have a rising wedge. Correct? And aren’t they usually resolved to the downside which appears to be occurring now?
Goo eye JS . That is a potential pattern as well.
But it is not really correct that rising wedges are usually bearish.
Any pattern can break any way. But most break in the direction they were moving when they enter the pattern…ie they are continuations . Maybe 75% or so are continuations and 25% reversals.
As I said its and Art and picking the most important patterns out of many unimportant ones is the art
Thanks Fully, I guess saying that you see what you want to see in things has a lot of merit. Well I’m just this crazy old silver bug and just tired of waiting for it to go ” To Da Moon Alice!”
With respect JS ( as I too have a lot of PHYS Silver) It has already been to the moon …$4 to $50 in a decade
That’s was the moonshot…unfortunately we are returning to the earths gravitational field now.
If you wanted to live on the moon you needed to exit at $48.
🙂
Fully, I want to believe that the event we witnessed in 2011 price ramp was NOT the moon shot. We could spend hours debating that so I am listening to my intuition which I have learned to respect above what my analytical mind likes to ramble on with. Triple digit silver is coming, when is the real question, but my intuition tells me in a few years.
Good Luck JS…That is NOT a moonshot…you are looking for a ride to Uranus IMO.
I used to be so sure of that triple digit silver too.. I am cured now.
This monetary system may implode but they will have another ready to go IMHO.
But triple digit silver …I am ready just incase
Fully, yes the bear market has cured you alright. You don’t think that silver coins and bars, etc. could become another tulip bulb mania? Think about that a moment. Did you watch the Nova documentary I posted the link to? The “Treasures of the Earth” which after you watch the the whole documentary does not include silver, nada, nothing! My intuition says the producers( controlled by main stream) are scared shitless of silver turning into another tulip bulb mania with the sheeple… so better not give them any education about silver! The silence of any facts about silver in that documentary screamed that at me! OK maybe its the wine talking now so I will sign off…Aloha nui loa…JS
The odds that we don’t see triple digit silver in the next decade are slim, IMO. Unless the laws of economics have changed, and value can be created out of thin air, reality will re-assert itself. The last thing I would want to see in my lifetime is silver trading in the hundreds of dollars, as that means that the western world is in serious trouble. I live here, and I want my kids to enjoy the same lifestyle that I have enjoyed. However I do not think that it is possible given the choices and actions by our political leadership over the past half century.
Correct! gold should be around 2300 inflation adjusted and the $1950 top was just not enough of a blow off mania. Nothing with banking debt and gov’t borrowing fixed since 2007 so have to wait a bit more. Time flies, just not that fast sitting looking at charts all day. Days get shorter soon, Christmas ads start in 5 months and it will be 2018 in a flash! Sure looks like NSA trying to spin stuff to impeach Trump.Comey could write any note to say whatever and sure looks like revenge for the firing. Does he wear eyeliner? Perhaps this is driving the dollar down. Lotsa skeletons in the FBI closet. Odd how the Washington Post spins it out. The National Enquirer is a more realistic read as of late.
Are we almost at the right downleg of the halfway pattern on the right side of this?
https://goldtadise.com/wp-content/uploads/2017/02/dollar2.png
I know we don’t actually have to get to 97 on the chart above for it to work. I am seeing a lot of people capitulating on the bull side, looking for a crash in the dollar.
On the fundamental side, for all of our perceived economic problems we are still the strongest fully developed country in the world. All things being equal the dollar will go up on that.