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has this guy completely lost it ?


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#1 tradesurfer

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Posted 08 June 2017 - 12:10 AM

does anyone know peter brandt ?  supposedly he is a world class technician.

 

But he makes the following chart and says all of us regular technicians are not doing sound charting principles.  And then he says he is going to short gold

 

 

35130884676_c7c885d364_h.jpg

 

 

I don't care if a trendline is broken by one penny.  A break of a trendline should be treated with RESPECT with the view that it is going to be broken.

 

what an idiot... or is he spot on ?

 

It seems to me that this kind of attitude by him could lead to a massive short covering rally like we have never seen.


Edited by tradesurfer, 08 June 2017 - 12:12 AM.


#2 dougie

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Posted 08 June 2017 - 12:52 AM

What is wrong with the trendline


I still think gold dips one more time

#3 pisces

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Posted 08 June 2017 - 06:14 AM

does anyone know peter brandt ?  supposedly he is a world class technician.

 

But he makes the following chart and says all of us regular technicians are not doing sound charting principles.  And then he says he is going to short gold

 

 

35130884676_c7c885d364_h.jpg

 

 

I don't care if a trendline is broken by one penny.  A break of a trendline should be treated with RESPECT with the view that it is going to be broken.

 

what an idiot... or is he spot on ?

 

It seems to me that this kind of attitude by him could lead to a massive short covering rally like we have never seen.

 

 

yes i have read some of his analysis before.he seems offer sound reasoning and backs it up with good explanations.he only comes out once or twice a year , i believe he is with a big money management firm catering to high end clients.

here he does not offer much explanation about that trendline.[why is it bogus?],but then there might be more to his article, which you did not post.  keep in mind that a lot of breakouts fail !

my personal opinion is that GOLD dips here,,maybe into july or so ,,then to start a bull market to last years.but as always TWT.

 

on a side note :It appears to me that a lot of commodities that i follow seem to get ready to turn UP for the longer term [gold , oil , coffee , most of the Ags] the reason for this will show up later , maybe big inflation and recession ?who knows and who cares , it will offer good trading opps. zorro.gif



#4 Russ

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Posted 08 June 2017 - 03:08 PM

Gold needs to punch through the 1300 level with a weekly closing above that level to really be off and running, so far it is balking at that idea but it should be coming for a summer rally.  It is a very important trendline, Armstrong has shown it a few times on his charts too.


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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