Halfway Pattern Complete?
I had been watching this parallel channel to see if there was any voltage in the bottom rail….seems it’s hot. Min target if it’s meant to be is 1433 and watching the first couple days of May for arrival.
Scouring the past I only found 1 instance in 2006 where there was a clean 4 pt bull flag. The results were a 36% rise in 63 days. If you’d like a chuckle here is what that would look like today…. and the KWN target is Gold at $1781 on May 3rd. lol
Gold follows a pretty clean pattern of identifying April action based on the date of the H/L of early March. I’m not convinced gold wont try another shakeout though, wouldn’t be surprised if that happens between 3/9 and 3/13.Hoping to see Gold go up after that and then correct into the 3/21 fed meeting before running. SKI is 100% bearish right now which certainly gives me pause. Shall see
Thank you Sir Schism for the info and chart.
Today’s bounce on a perfectly parallel bull flag spot does make me nervous to be short.
NFP tomorrow morning will tell more.
And for a 36% rise like that so quickly to $1781 Sir Graddhy’s quick drop to 80 would probably have to be correct!
Ya, it’s a tricky time. In 2006 $ went from 91 to 83.
https://www.tradingview.com/x/oa25fT8h/
NFP might gap dust out of this bear flag?
https://www.tradingview.com/x/euxtRf9B/
Gotta say Chuck…i’m impressed with the chart production. Charting world feels better with u in it. Even tho you’re huffing paint before you draw dollar charts.lol
Haha. Rather be high than low. 🙂
Well and if it does go lower my charting career credibility is gone as my entire thesis depends on it! Could be the quickest resurrection and reburial ever. lol…
FYI: if that inverse h&s bottom comes to fruition the target is about $1712…
ya, target is cool but its the velocity that seems unreal.
Actually I think the NL that everybody is using will turn out to be bullshit.
LOL Sirs Schism and Chuck
There’s a Fine Line there…..between Bullish and Bullshit !
🙂
Great charts Schiz
Nice chart. Lookin’ good, Billy Ray!
Nice charts Schism. Thanks.