Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Gold and Silver charts
>
Reply to Thread
Message:
<p>[QUOTE="EdThelorax, post: 3265506, member: 99854"]One of the things about charts is that they can SOMETIMES predict a coming geo-political event, similar to the way astrology claims to. One example would be that mid Aug. 2001 the US dollar index broke down out of it's downtrend, pointing to some unforeseen event causing the US Dollar to start losing value compared to other currencies. (primarily the Euro and Yen)</p><p><img src="https://www.tradingview.com/x/SZhUG0rM/" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>This was also seen in the stock market at the time. The 2 arrows point to breakdowns signaling the potential for coming events that would be negatives for the US.</p><p><img src="https://www.tradingview.com/x/89trOo3r/" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>The following chart of the DXY (US Dollar index) shows that the dollar is nearing the end of a pattern called a rising wedge as seen with the purple trendlines. This is not a very reliable pattern, but it does break down 74% of the time. A link to the statistics of this pattern.</p><p><a href="http://thepatternsite.com/risewedge.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://thepatternsite.com/risewedge.html" rel="nofollow">http://thepatternsite.com/risewedge.html</a></p><p><br /></p><p>I believe this chart is showing that there is POTENTIALLY a geo-political event coming in the next month that could cause a lack of confidence in the USDollar, causing a break down out of the pattern. I included the Fibonacci retracements to show that the DXY has retraced .618 (61.8%) of the move from the high to the low. The .618 is the most relevant of the retracements as it is a derivation of the golden ratio. These can often be seen as a self-fulfilling prophesy as enough traders pay attention to it that they can cause it to have an effect. This goes for many patterns and signals.</p><p>We don't know the future until it happens. We can make ourselves aware of the possibilities and knowing them helps us to make plans IF something does happen. </p><p>Like seeing DXY break up through the orange down trendline in April would have been a sign that investing in bullion could have been bad timing April 2018.</p><p><img src="https://www.tradingview.com/x/PVLxUsaH/" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="EdThelorax, post: 3265506, member: 99854"]One of the things about charts is that they can SOMETIMES predict a coming geo-political event, similar to the way astrology claims to. One example would be that mid Aug. 2001 the US dollar index broke down out of it's downtrend, pointing to some unforeseen event causing the US Dollar to start losing value compared to other currencies. (primarily the Euro and Yen) [IMG]https://www.tradingview.com/x/SZhUG0rM/[/IMG] This was also seen in the stock market at the time. The 2 arrows point to breakdowns signaling the potential for coming events that would be negatives for the US. [IMG]https://www.tradingview.com/x/89trOo3r/[/IMG] The following chart of the DXY (US Dollar index) shows that the dollar is nearing the end of a pattern called a rising wedge as seen with the purple trendlines. This is not a very reliable pattern, but it does break down 74% of the time. A link to the statistics of this pattern. [url]http://thepatternsite.com/risewedge.html[/url] I believe this chart is showing that there is POTENTIALLY a geo-political event coming in the next month that could cause a lack of confidence in the USDollar, causing a break down out of the pattern. I included the Fibonacci retracements to show that the DXY has retraced .618 (61.8%) of the move from the high to the low. The .618 is the most relevant of the retracements as it is a derivation of the golden ratio. These can often be seen as a self-fulfilling prophesy as enough traders pay attention to it that they can cause it to have an effect. This goes for many patterns and signals. We don't know the future until it happens. We can make ourselves aware of the possibilities and knowing them helps us to make plans IF something does happen. Like seeing DXY break up through the orange down trendline in April would have been a sign that investing in bullion could have been bad timing April 2018. [IMG]https://www.tradingview.com/x/PVLxUsaH/[/IMG][/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Gold and Silver charts
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...