i do agree with the 790 (my chart says 787 $) as a great buy spot for sure 10-20 $ spike up.
Sorry , but i don't follow dow charts.I started to follow it 2 days back only.Need to work on it before i can comment on it.
Yes , that falling trendline is so near for dow , break can occur , that might plunge gold till 805 $.
Exciting week ahead !.
Look at how amazingly similar these charts are
The only difference is the volume was up on DOW on a failed breakout. I think a negative reaction to that first. Who knows, maybe even a DOW reversal to the bottom rail of the wedge - though I suspect a higher low wave ii from both gold and DOW. 787 you say? Wondering about risk/stop here...
I think if Gold starts strong Monday I may buy a Nov put option @ $790 and place equal futures buy options at that price or just above. Hence no stop would be required. plus after the bounce sell the option quick and place stops. :whistling
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From July we see a three peaks and domed house formation brewing in the DOW
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I cover shorts near 11000.. iHnS
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here is my ultimate DOW chart
as you can see the larger pattern is developing but under monetary inflation (curve)
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due to printing press point 27 may be higher than expected. The baseline is not flat but curling up. It is even possible we are at point 28 and the pattern is complete but I think not - the dome roof was a triplet peak. I must see what DOW did after 1976
Study well this post it is deep
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