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<p>[QUOTE=&quot;EdThelorax, post: 3262995, member: 99854&quot;]Keep in mind, these are weekly charts, They take months to start to play out.</p><p>When I said I believed that gold would break the downtrend line, I could have said something more like&nbsp; &quot;I see a 75% chance gold will break the lt. Blue line within the next 3 months&quot; Charts to me help recognize and&nbsp; show potentials and what could be signals to be watched for. For example when a shorter moving average crosses a longer one to the upside, it does not mean the price will go up, but it does increases the CHANCE that it will. </p><p>Here is a close up of gold with a few lines added.</p><p>The green and red horizontal show the range of the past few years. LT blue is an average </p><p>of the 2 upper downtrend lines in pink. Solid is the current, strong one and dotted is an older, broken, weaker one. Same for the uptrend lines. </p><p>Where the solid green is, you can see the 2 moving averages in red and blue converge, as well as being the middle of the range, it is also close to current price.&nbsp; </p><p>I do NOT know what is going to happen. but as the price reacts to those lines, i can adjust the probability of a longer term up or down outcome. </p><p><img src="https://www.tradingview.com/x/TvklJy8q/" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]</p><p><br /></p>

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