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$1,391.7 gold futures

The gold plunge continues, page-841

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snider

422 Posts.

14/10/14

11:44

Post #: 14121315
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Originally posted by Skol ↑

I'm busy.
Averaging down will work fine, always does, trying to pick the bottom's for suckers, you should have been reading here for the last few years, every few weeks there's a "bottom's in" post, all wrong of course.

My superannuation, a very large sum is in cash, so I've got it all spread around, don't lose any sleep over my financial state of affairs.

Here's a 2 year chart, as you can see gold is in a descending triangle, lower highs, it more than likely means a retest of 1180, descending triangles more often that not break out in the direction of the trend, downwards in this case. Technicians reckon it's not really a triple bottom because the time period is too long.

If I owned any gold I'd get depressed just looking at this chart.

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Hi Skol,

Your never to busy when gold is going down and equites going up!

Contrary to what your "technicians" say the wider the Time frame for double and triple bottoms the stronger and more important the move and with triples it is more significant as the price usually moves a lot quicker as we are seeing atm.

By the way I have been reading for a long Time i just usually keep my comments to myself .

snider
6 Upvote

0 Great analysis

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