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What is your gold "NUMBER"


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#1 tradesurfer

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Posted 26 July 2017 - 01:16 PM

I use tradingview charts and I have drawn a precise down trend line from the 2011 peak on the monthly chart.

 

We are at a critical moment this quarter as we are again very close to breaking this down trend line to the upside.

 

For the month of July 1260.85 is the precise number that if we trade ABOVE it I consider it a breakout of the down trendline.

 

For August we must be above 1252.74

 

If a breakout is going to occur from this multi year trendline basic market principle says that it must be a substantial and strong move. Why? Because this would confirm it as a breakout.



#2 gannman

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Posted 26 July 2017 - 02:14 PM

i think we have commenced today for sure everything is finally moving together but i had head

 

the number 1265 tossed around by some good technicians


feeling mellow with the yellow metal


#3 tradesurfer

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Posted 26 July 2017 - 02:21 PM

yea this looks like we are in breakout zone right now from the 2011 top.. need to sustain for a week and for July but this looks like a "Ring the Bell at the bottom" moment



#4 pisces

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Posted 27 July 2017 - 03:26 AM

yea this looks like we are in breakout zone right now from the 2011 top.. need to sustain for a week and for July but this looks like a "Ring the Bell at the bottom" moment

 

basically agree , BUT lets be careful out there.

trendlines are way overrated , lots of whipsaws happen on breakouts . besides trendlines are there to be broken.

we are trading against a lot of computers , which are programmed to take your money . who elses money are they going to take ??

thats enough [its mostly a reminder to myself] i am watching for GLD ~150.00 by yearend  ,  but  TWT.



#5 gannman

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Posted 28 July 2017 - 09:42 AM

trade surfer that number was a weekly close over 1265 would be a go for this guys system

 

i will find the article and post it here later


feeling mellow with the yellow metal


#6 gannman

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Posted 28 July 2017 - 09:44 AM

http://kingworldnews...he-gold-market/

 

this is the article the number is based on his system of t.a. fwiw


feeling mellow with the yellow metal


#7 denmo83

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Posted 29 July 2017 - 12:45 AM

German ewave guy has the number set at 1256.40



#8 gannman

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Posted 29 July 2017 - 02:48 AM

right not we have exceeded both so we see


feeling mellow with the yellow metal


#9 Smithy

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Posted 29 July 2017 - 02:47 PM

I've calculated the breakout in Excel to the dollar - Monday is spot $1,263, Friday closed $1269.

Previously we've had 2 false breakouts on 4/16/17 and 6/6/17.



#10 dougie

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Posted 29 July 2017 - 05:54 PM

 

Knock knock knockin on heavens door