Goldtent TA Paradise

There Is No Escape

1. Gallo says:

   April 4, 2018 - 7:57 am at 7:57 am

   Nice. Late summer early fall just seems right. Too early now. In fact, this is where the smack might occur should the conventionals get their footing over the next several weeks. Thank you NS. Been reading everything you write:)

   • Simon says:

     April 4, 2018 - 8:54 am at 8:54 am

     What do you mean by “conventionals”?

     • Jim says:

       April 4, 2018 - 8:58 am at 8:58 am

       I think he means the stock and bond markets

   • Northstar says:

     April 4, 2018 - 9:04 am at 9:04 am

     Thanks Gallo. Appreciated. You might be right. There does seem to be some upwards pressure building though. If stock markets continue to stumble and trade conflicts with China continue that could make quite a difference, along with the rise of the Yuan in international trade settlement, and weakening dollar. It could happen anytime between now and the end of the year (next year is a possibility, but I don’t think we’ll have to wait that long).

2. KenS says:

   April 4, 2018 - 8:06 am at 8:06 am

   Unfortunately when the end of a triangle is reached there is usually no violent movement. It just continues to drift along…

   • Northstar says:

     April 4, 2018 - 9:08 am at 9:08 am

     You might be right Ken. I’d be keen to know just how many result in large moves and how many do not. I think you need to take everything into account when you try to figure if the breakout target (in this case over $2500) is likely to be reached. First off, and probably most important, is the cycle in its up or down phase ? We’re in the up phase, so resolution is almost certain to be to the upside. Wedge breakout and target theory here https://www.investopedia.com/university/charts/charts7.asp

     • BooBooMan says:

       April 4, 2018 - 5:40 pm at 5:40 pm

       This should tell you quite a lot about Triangles: http://thepatternsite.com/st.html

3. Fullgoldcrown says:

   April 4, 2018 - 8:35 am at 8:35 am

   Great Chart…says it all

   • Northstar says:

     April 4, 2018 - 9:09 am at 9:09 am

     Thanks Fully

4. Jim says:

   April 4, 2018 - 8:59 am at 8:59 am

   Nice chart as usual NS. I’m on pins and needles re: the resolution of the mighty triangle.

   • Northstar says:

     April 4, 2018 - 9:09 am at 9:09 am

     Me too

5. North says:

   April 4, 2018 - 11:25 am at 11:25 am

   Good chart, Northstar.

6. Northstar says:

   April 4, 2018 - 11:44 am at 11:44 am

   Cheers North. Watch and wait now

7. Marcusjames says:

   April 4, 2018 - 11:52 am at 11:52 am

   For what it’s worth, Armstrong’s Socrates says gold is about to rally. I’ve been subscribed for awhile. Socrates has been consistently bullish on gold for the year.

   • Mamare says:

     April 4, 2018 - 12:23 pm at 12:23 pm

     the fact that it has been consistently bullish on the dollar over the last year does not reassure me that it is now positive on gold…..

     • Marcusjames says:

       April 4, 2018 - 12:47 pm at 12:47 pm

       Actually Socrates has had the dollar on a “sell” signal for quite some time. The market history seems half bullish, half bearish. I guess that would end up being a neutral prognostication. I find the stuff interesting enough to pay the small subscription price, so it’s worth it, maybe. I’m to depressed to care anymore.

     • Northstar says:

       April 4, 2018 - 1:51 pm at 1:51 pm

       If that’s the case, I personally wouldn’t trust it.

   • Northstar says:

     April 4, 2018 - 1:50 pm at 1:50 pm

     Interesting. Thanks Marcus.

8. Norwegian says:

   April 4, 2018 - 12:23 pm at 12:23 pm

   I see a very encouraging chart. There is an old adage in charting that says, “The longest line is the strongest line.” In my 80s now, I have been looking at charts for more than fifty years, and the adage holds up time and time again. Your longest line has a very sustainable angle for the long term as well. I am betting it will hold for a long time.

   • Northstar says:

     April 4, 2018 - 1:53 pm at 1:53 pm

     Thanks Norweigian. You have a lot of experience there. In a way, that uptrend/support line is just a measure of the loss of dollar purchasing power over time. That being the case, it’s hard to see how it could fall in any meaningful way.

9. scofield says:

   April 4, 2018 - 1:25 pm at 1:25 pm

   Sentiment is overly bearish personally so this will resolve up

   • Northstar says:

     April 4, 2018 - 1:54 pm at 1:54 pm

     There seems to be a lot of negative sentiment, with many giving up. That would be a mistake in my view.