Gold: Triple Top breakout with a Long Tail down.

[gpond]

Generally a pretty powerful formation.

Shown here using traditional scale. I didn't draw the trendlines and do not agree with them, so don't look at them. Promise me.

[gpond]

I usually prefer looking at this 20 dollar chart, or even the 25 dollar chart for a better long term look-see.

Here we have Gold threatening to form a broadening formation on a print of $1280 (or above tee hee).

These are also powerful signals - heap good signals.

We must wait to see if the print of $1280 occurs, but looking good.

[gpond]

Game on. We did hit the $1280 gold creating the broadening formation. We should see some good gains in the short term.

[AgAuGal]

and I would expect the big boyz/girlz fighting it tootha and broken nail.

thanks for the charts gpond

[Argent Dragon]

GOLD does make for some beautiful charts.............do you see that Mr. DOW ?!?!

-Boom-bada-Bing !-

[Au-myn]

That's some good work analyzing those charts and a fine call on the Broadening formation, gpond !

[gpond]

Thanks, Au-myn. Your opinion is always welcomed!

[prophet]

Thanks G

for the P & F charts.......another new thing for me!

[gpond]

prophet,

For P&F charts, listen to what Au-myn says carefully. He could and should write a book on the subject. Whatever he says is correct, and whatever is correct is what he says. P&F charts are more accurate than most. He taught me what little I know. This is a tip from me to you.

[gpond]

Update on Triple Top with Long Tail down. Compare to first chart posted in this thread. TTLTD is a very good pattern.

[gpond]

Update on the Broadening Formation using 20 as box size. Compare this to the second chart posted in this thread.

LT this may have more room to run, but it is a somewhat longer term view than the traditional chart. Still, it is working well.

[Curtman]

Each time they attempt to crack it they are met with misireable failure, little conviction in selling.
Give me the 1710. and more. I'm game.
GPR up 19% today BTW. Silver was up a bone at one point. Good interpretation Pond.

[gpond]

PnF gold chart with Traditional settings. Compare to first chart in this thread.

(I do this so people can see that PnF charts can be most helpful... by seeing the progress made in these formations. Triple top with long tail down, is a big/good formation not to be trifled with.)

[gpond]

PnF gold chart with $20 box size. Compare to 2nd chart in this thread.

(Again, for educational purposes.. Do not trifle with Broadening Formation. This one works well. Look into it.)

[Eat Beef]

Pond, I'm no fan of the thanks button, but...THANKS!!....

...way to be the banana.

[AgAuGal]

gpond do you PnF for Ag?

[gpond]

gpond do you PnF for Ag?

Look here:
http://goldismoney2.com/showthread.php?6474-Silver

[AgAuGal]

Look here:
http://goldismoney2.com/showthread.php?6474-Silver

I replied to the $4 box you posted but fo some reason it did not stick. th silver thread doesn't seem current. the $4 box you posted had 28, is that the next target before a rest?

[gpond]

No. That Silver chart was just a joke.

[Zed]

PnF gold chart with $20 box size. Compare to 2nd chart in this thread.

(Again, for educational purposes.. Do not trifle with Broadening Formation. This one works well. Look into it.)

I gunna be swallowing my ears if we hit that target!

[gpond]

I gunna be swallowing my ears if we hit that target!

Me, too. Forget the target, it is automatically calculated, incorrectly. Good for a laugh and a dream.

[Zed]

Me, too. Forget the target, it is automatically calculated, incorrectly. Good for a laugh and a dream.

Awwwww... now I am sulking! LOL!

[gpond]

Wow, potential broadening formation on the traditional scale for gold IF there is a buy signal at 1390. Big IF, but the setup is there. This BF would support the previous BF on the $20 chart. Watching, waiting. Hasn't happened. But might.

(Can't seem to post the chart... oh well.)

[gpond]

The potential for a broadening formation mentioned in the previous post failed yesterday by breaking down into a column of O's before hitting the buy signal at 1390. Today, we did take out 1390, but the formation was already ruined. Now we have a double top, or sometimes I think I have heard Aumyn call it a triple top because the action today created a buy signal and created a column of X's higher even than the previous (local) high. Still on a buy signal, no broadening formation.

[NEBULOUS]

The potential for a broadening formation mentioned in the previous post failed yesterday by breaking down into a column of O's before hitting the buy signal at 1390. Today, we did take out 1390, but the formation was already ruined. Now we have a double top, or sometimes I think I have heard Aumyn call it a triple top because the action today created a buy signal and created a column of X's higher even than the previous (local) high. Still on a buy signal, no broadening formation.

So if I am reading this correctly, we now have a false buy signal that has caused another rise in the price of gold, but one that will complete the third leg up of a triple top, which, eventually, will lead to a downturn? If you would be so kind as to please explain. Does your P&F charting indicate we are turning a corner to the downside?

[gpond]

So if I am reading this correctly, we now have a false buy signal that has caused another rise in the price of gold, but one that will complete the third leg up of a triple top, which, eventually, will lead to a downturn? If you would be so kind as to please explain. Does your P&F charting indicate we are turning a corner to the downside?

No, we have a new real buy signal on the chart. I wish I could post it. In P&F charting a triple top is good, so there is nothing negative at all about the chart. The only 'failure' was a failure to form the broadening formation that I was looking for. Broadening formation usually shows excellent gains, but we are still bullish. Nothing negative about the chart to speak of.

[NEBULOUS]

No, we have a new real buy signal on the chart. I wish I could post it. In P&F charting a triple top is good, so there is nothing negative at all about the chart. The only 'failure' was a failure to form the broadening formation that I was looking for. Broadening formation usually shows excellent gains, but we are still bullish. Nothing negative about the chart to speak of.

Thank you very much for the great info gpond. Ya had me shakin' in ma shoes for awhile there!

[Sheepdog]

I wonder if the last fews days fit into the normal spread average?

[gpond]

Wow.

This chart makes the break-out (a year ago) at $1270 on a triple top with a long tail down look pretty good, eh?

(If in doubt, compare with the first chart in this thread.)

[Strawboss]

I have to figure out how to read this type of chart one of these days...

[bluesky99]

I have to figure out how to read this type of chart one of these days...

Straw, I was just thinking the same thing.
http://www.traders-talk.com/mb2/lofi...hp/t72883.html

[gpond]

They say:

"Never mistake a bull market with being a genius."

There is certainly a great deal of truth there, not to be ignored.

[Lore]

The support should be a parabolic curve, not a straight line, but the observation is the same: we are in new technical territory.

Thanks GPond! I was thinking about trying to pick a near term top, but not now. We may not see these levels again.

[Irons]

I have to figure out how to read this type of chart one of these days...

Don't feel bad, they make no flippin' sense to me either.