GreekGatsby14

GreekGatsby14

On the last trading day of the year, the silver price effortlessly rushed above the 61.8% trendline below the median of the upward price channel right at the point where it meets the trend line from the September high only to retrace right back to this pivot point. It was at the 50-dma where the turnaround occurred but it was the first test and now we have a...

GreekGatsby14

The present ASCENDING SCALLOP pattern on the monthly EURUSD chart is lookin' more and more like the ASCENDING SCALLOP pattern of the early 2000's each compete with a TRIPLE BOTTOM. In fact, even the TRIPLE BOTTOMS in both patterns are very similar. As in the early 2000's, I see 3 descending peaks (3 black arrows) until the 4th peak (blue arrow) breaches the...

GreekGatsby14

Target 72.15 ... calculations for neckline breached at 75.18

GreekGatsby14

The miners have been seesawing in an ASCENDING TRIANGLE PATTERN since October last year. This pattern calls for a 70% chance of an upward breakout but I must warn you that this pattern is mediocre in reliability. The pattern is more reliable when the price action holds few gaps and the volume decreases as the pattern progresses ... both criteria are met. The...

GreekGatsby14

Many analysts are pointing out a bearish head n' shoulders top pattern on the gold daily. Although this may be true in some ways, there are a few problems with this pattern that may prove to produce disappointing results. First of all, the LEFT SHOULDER is way smaller than the RIGHT SHOULDER which means the pattern will not play out as expected. The LEFT SHOULDER...

GreekGatsby14

Silver priced in the royal currency of Canada is about to test the downward trend line from the April high which so happens to be near the key 38.2% fib retrace of the descent from that high. Breaching this level would open the doors for an upside attempt at the $22.10 - $22.21 resistance (blue dashed line). After that, the price action can play out in several...

GreekGatsby14

Silver priced in the royal currency of Canada is about to test the key 38.2% fib retrace of the descent from the April high. Breaching this level would open the doors for an upside attempt at the $22.10 - $22.21 resistance (blue dashed line). After that, the price action can play out in several ways. For now, if those trend lines stand true ... silver will be just...

GreekGatsby14

The GOLD:SILVER RATIO has breached below the neckline of a HEAD N' SHOULDERS TOP pattern on the daily chart & SEPT. LOW support lies right below

GreekGatsby14

Should the gold price extend beyond the recent peak at $1357 then by examining the price movements along the fibonacci levels prior to that we can "guestimate" the new high ... this is like using the FIB RETRACEMENT IN REVERSE. Do not try this at home. It is not recommended by 4 outta 5 analysts.

GreekGatsby14

Silver is prowling above all major moving averages but that 50% fib retrace of the SEPTEMBER SLIDE is proving to be strong resistance. Above this congested yellow rectangle is where the bulls will hold the advantage

GreekGatsby14

The 30-year-old Kim Yo-Jong, a computer geek, once ran the Department of Propaganda and Unrest for her retarded brother and has recently been promoted to deputy member of the influential and communist Politburo. This is "evil with brains", IMO. If this ain't enough to boost gold ... I don't know what is. Gold is breaching the 23.6% fib retrace of the drop since...

GreekGatsby14

As previously posted, my short term target for gold is $1445 which meets the neckline of an INVERTED H&S PATTERN. Using the fib speed resistance fan, probably in a way which it is not intended to be used, I lined up the tool's fib trend lines with key peaks and valleys on the weekly chart for gold from the low to the $1445 target. From the chart we can expect...

GreekGatsby14

Silver scratched & clawed out of oversold territory last week after the FOMC meeting and then limped back in a blink. Assuming we get a bounce here at the 50% fib retrace of the late-summer rally which is also the halfway point of a cup n' handle pattern forming on the daily ... expect a retest of the downward trend line from the all-time high. A drop below the...

GreekGatsby14

dropped below 50% fib retrace of late-summer rally with support at 100-dma ... key 61.8% retrace is at $3000

GreekGatsby14

BOTTOM TREND LINE SINCE 2011 TO BE TESTED

GreekGatsby14

The greenback bounced off the 38.2% fib trend line below the median of an upward channel in place since 2011 but I see a retest of a trendline since 2008 which follows the 50% fib trendline below the median ... which would make that the 1/4 trendline (red dotted line). Below that the 89.62 (the psychological 90) awaits at the key 61.8% fib trendline below the median.

GreekGatsby14

As previously posted ... gold is working on a long term INVERSE HEAD & SHOULDERS bottom. Since testing the November, 2014 low of the left shoulder at ~1131 last Christmas, an 18% rally has ensued which seems to be picking up even more steam with every presidential tweet. Assuming the neckline is crossed at the 1445 tag which should be by April, 2018 ... the target...

GreekGatsby14

The key 38.2% fib retrace of the descent from the all-time high falls on the 7-year moving average which happens to be the previous major high of July, 2016 and also my target in the INVERSE HEAD & SHOULDERS PATTERN.