Fullys Silver Chart
Fully, the first chart below is a recreation of the silver chart you posted on 6-26-17. The earlier comment I made under your FXE post was simply trying to point out what I believe was a FBO to the neckline. After (re) reviewing Spocks most recent silver post, I cant help but think that the FBO does have a level of significance. I could be wrong.
The following is a closer view on a shorter time frame along with the added EMA 30 for what ever its worth.
I have always been a hands on learner and there fore I recreate and follow many charts as a way to educate myself. From time to time, I will point out a charts action to the member who originally created it, as a way of saying (hey fellow member, I have taken the time to recreate the chart you shared on such and such date and believe the recent development within its action is worth taking a look at). Im simply trying to be helpful as I have noticed sometimes that even the original creator of the chart may not have the time to follow up on every piece of work they have shared.
The country music legend George Strait was asked what the secrete to his success was following his 50th #1 hit. He said that when he was first starting out, he wrote songs and then sang the songs that he wrote with very little success. He finally decided to “let the song writers be song writers” while he would focus on being a good singer. I share this story because I am well aware that I will never be what I would call a great chartest. In fact, I have decided to “let the great chartest be chartest” while I try to simply point out developments of possible significance when ever I believe I have spotted one worth sharing. With my limited experience, it is my way of trying to contribute/give back to this community. Some of my best success has come from not needing to be the one who is right so long as I was able to position my self with the one who was.
That’s a very good philosophy. I suspect there are many members of this site who do much the same. I often archive other people’s charts and go back to them. Suspected chart patterns with support and resistance lines regularly morph into a whole new pattern.
Sometimes a FBO only appears that way because the support/resistance line was drawn in the wrong place and needs adjusting as the pattern builds out.
Thanks Optional
I see your point now.
I think we need to see more up to call this an FBO…It so far may be in the “Hard” Backtest category
Sometimes the line is exceeded slightly and or briefly…then the backtest ultimately holds.
So lets watch and see.
BTW….don’t sell yourself short…from your recent charts you look like you Will be a good chartist. You are a great
student
Thanks Fully. Agree with needing to see more upside which is why I added a ? after the FOB. Spooks view is for sure compelling.
GSR daily shows an abandoned baby reversal so its an FBO
I doubt Spock Matrix subscribers would be averse to you posting that chart here Spock, its absolutely awesome!