interested lt igr sucker, page-73

Paddyboy, my chart of gold differs from what you would often see.
I often see the descending trend line on the 2nd chart drawn at the top of the intraday spikes and at the top of what I consider a false break out.
I believe the trend line should ignore intraday spikes and only use the body of the candle (or closing prices on a line chart).
I also believe it should fit the majority of the price action which is why I drew it through the March price action and called this a false break.
The line then fits with a great majority of the data rather than just two extreme points.
On my chart it is clearly in break out territory now. That is clear to me but not those that draw the chart through the extreme high points. Using that method it has not broken out yet. Charting is no exact science and you will get different interpretations. I see a breakout of the down trend now.
A move above around 1635 will confirm as it breaks above near term resistance on the first shorter term chart.
This chart looks especially bullish as noted on the chart.
I think a break out will happen in days based on this chart and if there is one more pull back first, it should hold above 1,600 on a closing basis.