Chart Number 1000
This is my 1000th chart on goldtadise. Following the discussion about Savage and Graddhy earlier on, I’ll be clear – I’m no gold bull. I follow the charts. If support goes on this log chart, my attention turns to the linear chart I posted a day or two ago. Support lies somewhere near $1250 on the ‘golden bowl’ and somewhere near $1220 on the long term uptrend line. Above that, I’m bullish. Below that, I’m out. False moves at pattern completions are common – a final ‘shake-out’ if you like. There’s no need to mock it – it’s a simple fact. I agree it’s foolish to hang on when the evidence is no longer there. I have plenty of respect for both of them, and anyone else who gives their work freely and openly. We all have a mind of our own, and can filter out whoever we wish. IF price advances up beyond the apex in the $1350 region, we have a false breakdown and an around the apex move. Feel free to ignore ๐
No offence I stopped reading incense you said you had respect for Gary savage – nuff said – heโs cost a lot of his subscribers a lot of money – simply sticking your neck out and making a call doesnโt earn you respect
Well, so far, I have to say he was right. Gold hasn’t broken down below its long term uptrend line. Spock lost me a lot of money – and he charges a subscription. Most of his ‘rocks’ lost me 50-90%. I’m not complaining because it was my choice to listen. Graddhy gave HIS VIEWS free of charge. They are HIS VIEWS. The don’t have to be YOUR views. That’s how the internet works. Everyone gets to publish their views on an even playing field. You have to take responsibility for your own actions in life. That is especially true when making investments. The old adage ‘never put all your eggs in one basket’ is as valid now as it ever was.
Edit – I misread your comment. I’m referring to Graddhy here. I only read Gary’s free stuff and find it ‘variable’. Subscribers to Spock, Savage or anyone else still need to know that predicting the future is never straightforward. It’s very important to spread risk.
Thanks so much for all your work NS! I certainly appreciate your objective view and agree that looking at many different vie points is helpful.
Someone once said that don’t expect people to be perfect or you won’t have any friends.
I decided a while back to call myself a hedger, not an investor or trader. I’m certainly looking forward to a sustained up move in gold and silver but patience is a key to life…….Some say that the source of all our suffering is the thinking mind. ๐
Ha, I like that last bit Steins ๐ Very true.
NS. Just wanted to say I have nothing but respect for your work and charts. Any comments I made about Graddhy were only about him. I just have an issue with him never admitting he was wrong and changing his charts to fit his narrative. Two sides to every case are great to have. Appreciate your work.
Point taken PK, and I agree it pays to be humble. Trying to forecast the weather on a daily basis does at least install that discipline ๐
Plus the dollar is speaking right now and it ainโt bearish gold. The wedge seems to be holding.
Dollar just tanked!
The chart patterns for USD and Gold are going to battle it out now. Between here and sometime in the Autumn/Fall one is going to break out and the other is going to break down (In my considered view). Which goes up and which goes down ? Place your bets ๐
1000 Pictures is worth 1 word
GOLD !!!!
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Patience is a virtue, allegedly ๐