@Sdajii @DrBourse @Garpal Gumnut @qldfrog @peter2 I've sent Wykoff an email to ask why he's using Dec Gold in his charting with a link to this thread. Will be interesting to see if he responds.
I agree with you GG....While enjoying Jim Wyckoff's coulumns in Kitco I believe his support resistance lines in the above to be wrong.
There is too little distance here between the s and r prices, in this case just 4%, too little time looked at for the trading environment hoped for and it is December Gold not spot.
There are also not enough prices touched for it to be true support or resistance imo.
Jim is no relation to Richard Wyckoff btw. who developed a TA system with rules over 100 years ago which is still relevant today and is worth a look at for those new to charting.
I believe @Sean K that you are reasonable in looking at a 10% jump in the POG i.e. $USD 250 and believe that to be a conservative estimate. The funds in the US are looking at appreciations on the NASDAQ of 10% weekly sometimes and money is getting cheaper there.
gg
We're all thinking and doing something wrong somewhere, what hope do we have? And what else have we been doing wrong that we know not of?@Sdajii @DrBourse @Garpal Gumnut @qldfrog @peter2 @mullokintyre @divs4ever I've sent Wykoff an email to ask why he's using Dec Gold in his charting with a link to this thread. Will be interesting to see if he responds.
We're all thinking and doing something wrong somewhere, what hope do we have? And what else have we been doing wrong that we know not of?
We try our best, but sometimes the best isn't enough, then what?Of course we all make mistakes, some we realise at some stage, some we don't.
That's no reason to avoid making as few as possible and do the best we can.
What point are you trying to make? Do you advocate giving up and stop striving to do the best we can?We try our best, but sometimes the best isn't enough, then what?
What point are you trying to make? Do you advocate giving up and stop striving to do the best we can?
We can do our best and maximise our chances of success or amplitude of success. Or, we can say that we might fail, so why bother putting in any effort.
What are you trying to say? If you want to give up and not try, that's your choice.
Fear not Sean KI'm not counting gooses but this move looks a little different to several of the past breaks that ended up in a little bit of consolidation. I still wouldn't be surprised if there's some smart profit taking from longer term holders but at the same time maybe FOMO will eventually hit those losers backing the digital coin.
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@Sdajii @DrBourse @Garpal Gumnut @qldfrog @peter2 @mullokintyre @divs4ever I've sent Wykoff an email to ask why he's using Dec Gold in his charting with a link to this thread. Will be interesting to see if he responds.
@Sean K you may just be underselling @Garpal Gumnut ... perhaps you may need an excavator of sorts ha ha ha ha ha ha haGold thread rejoice!
Selling will be the hardest thing.
@Garpal Gumnut I'll come up with a pick and shovel to help you dig up your treasure.
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