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Date Posted: 09:25:12 03/13/20 Fri
Author: philbond007
Subject: Eli @ How many folks on this blog / Gold charts

Just a handful Eli, it's mostly same folks from the "old" site(s), that check this site from time to time. But fear not Eli, this market madness shall pass.

Of all the charts I'm looking at, the Gold chart appears to be sending a "possible" message that may have some far reaching consequences. The first two charts show the obvious continued strength, especially if gold manages another monthly close above channel resistance.

However, the 3rd chart is the one that should bother folks the most. Note that FUGLY pattern I don't like, & also note it's a monthly chart, which means 12 candles on this chart are 1 year & that's not even that much for this chart. Point is, let's say the price chops higher over the course of 1+ years, & ultimately makes new highs, the ONLY question left at that point is:

* how high before a correction

And, that question IS the potential problem. If the price continues much higher & NEGATES the FUGLY pattern, then no worries. However, if the price creates the RIGHT SIDE TRIANGLE in a manner that not only shows a BEARISH PATTERN, but a bearish correction that follows at some point, then ONLY TWO questions remain:

* how low before the correction is over

* if the correction meets price objective, HOW CAN THAT BE EXPLAINED WITHIN THE CONTEXT OF THAT KINDA DROP?


In my humble opinion, this would imply some kinda monetary reset. For me, nothing else would explain a drop from $2,000+ to $350, other than a monetary reset.

Just putting it out there...










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