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Au Breakout

Au-myn

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#41
Here is a short term P & F 3 x 20 scale chart with an Ascending Triple Top formation in progress.
First top 1600, second top 1680. Well you can take it from there.

That Intermediate Trend Line ( 4 consecutive points in a 45 degree straight line) is the current intermediate Bullish support.


Au 1.png
 

Curtman

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#42
yep nice to see you in the point in figure I've been on this from the beginning I just don't have enough stacked I'm working on that bonds plunge Market prop over a thousand points yeah The usual suspects and half a point interest plunge. Bubbles pushing on the pens of anarchy soon splat Its a recipe for disaster for the entire globe whom are also printing with reckless abandon.
gold and silver will run hard and fast I don't know how long it will go but it's going to go a while. Years ago I told you I'd see silver paint 300 an nounce gold shirley will paint 10,000 and here I am got a position save for a few scraps. Said it then and saying it now. Just a matter of time.
Thanks a u
 

Curtman

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#44
Bingo I think your right.
Yea I think they have covered around the $8.50 through the $9.00 mark.
Told Hiveman to look into you he is solid guy lives in your area we talk on the phone all the time.
 

Voodoo

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#45
$1680 for the triple top? Have one gld put left I should have silent but kept it just in case. My one DIA put got away from me far too early. Could have been a 30 bagger. Oh well a 3-4 bagger is better than holding the bag.
 

Voodoo

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#46
So, it looks like a Triple Top with a long tail down could be playing out.

View attachment 158703
Nice call on that. Looks like the let it ramp right up to the previous highs and then even signaled the takedown. Got to squeeze the last bit of life out of those optimistic traders.
 

dpong

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#48

<SLV>

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#49
When we break out what is the target - 2500?
 

Au-myn

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#50
Hey <SLV>,

Once the buy signal occurs at 1710, gold will attempt to penetrate 1800 where the first bullish resistance line is and can be seen on the chart several posts up (Post#43) as broken lines. Well see what kind of charge that "long tail down" has...:popcorn:
 

the_shootist

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#51
Hey <SLV>,

Once the buy signal occurs at 1710, gold will attempt to penetrate 1800 where the first bullish resistance line is and can be seen on the chart several posts up (Post#43) as broken lines. Well see what kind of charge that "long tail down" has...:popcorn:
I hope it waits till I get my ebucks paid out for Q1
 

Voodoo

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#52

Au-myn

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#53
Any reason you are picking a Box Size of 30? Definitely affects the look of these charts.

Starting to read through this. Pretty informative on these style charts. https://school.stockcharts.com/doku.php?id=chart_analysis:pnf_charts:pnf_basics
The scale fits the price range in regards to accuracy of formations and trend channels.

I have experimented with different scales since 1980. At that time I was updating my Point & figure hand charts from the WSJ quotes.
I had 50 stocks, INDU, NYA, odd-lot/short sales index, Relative Strength, NYSE Bull% and advance/decline line.

I got the idea of micro - charts from a book I bought called "Study Helps in Point & Figure Technique" by Alexander Wheelan 1954.
It was his 1954 Wheat P & F charts on a very small scale that opened up the door. It was a lot of work expanding the range of movements
on different charts and analyzing what worked and why. Another option when the traditional scale P & F is loaded with congestion is to adjust the reversal from 3 to 5.This will eliminate minor movements and offer a longer term look at the chart.
 

Au-myn

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#54
Well, we can scrap the TT formation w/ long tail down. Currently, we have a #2 Double Bottom (market top) sell signal at 1560 and an incomplete pattern following it. I'll keep you folks informed as this plays out.

chart.png
 

Curtman

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#55
Well Rob McEwen says it's going to hit 2,000 soon because of all the printing going on in the dollar going down. What do you see in the silver charts? Particularly mux I'm piling in that one cheap for my kids the futures are up tomorrow so we should see a different kind of day I expect the market will begin to rally,
 

Au-myn

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#56
Well Rob McEwen says it's going to hit 2,000 soon because of all the printing going on in the dollar going down. What do you see in the silver charts? Particularly mux I'm piling in that one cheap for my kids the futures are up tomorrow so we should see a different kind of day I expect the market will begin to rally,
Waiting for silver to bottom at 12.50/13 range. MUX is also bottoming. Never been big on them.
 

Au-myn

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#57
Looks like a Quadruple Top formation buy signal at 1710 is coming.

Breaking down the two patterns within this Quadruple top we have a reversal pattern - # 2 Double Bottom formation sell signal at 1560 (highlighted) which followed a continuation pattern, that long #1 Double Top to the left. So you can see how it reversed to a sell signal.

A1.png

What I believe will follow, IMO, A reversal again. A Bullish Signal formation. A bottom (1470) followed by a top (1680) followed by a higher bottom (1590) and to complete the formation a buy signal at 1710.

This should also be interpreted as a variation of a Formations in Combination which consists of three tops.

Nevertheless, it is a powerful formation in The Three-Point Reversal Method of Stock Market trading.

A2.png

As always, DYODD.
 

Curtman

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#58
Oh yea, give me a little more time to get some money and put it to work.
 

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Curtman

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#59
That's one my Granddaughters by the way.
 

the_shootist

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#60

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#62
Hey Au-Myn

Do you use hi/low or close chart setting?
 

the_shootist

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#64
Do you all buy in increments of $10k or $5k or $25k?
Sometimes, but mostly when a deal comes along you spend whatever is necessary (within current means at the time) to take advantage of the deal

At least that's my thinking. Other may look at it differently
 

Strawboss

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#67
And BOOM - there it is...

Awesome work Au-Myn...

1586268247001.png
 

Strawboss

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#69
So I got to wondering how often quadruple top breakouts fail. Not suggesting this one is gonna - but, you know - figuring out the risks...

Came across this chart

1586269649433.png


Certainly possible we go back and test support before moving higher - 2nd example on chart above.

So - that would put $1560 as a double bottom breakdown - and $1440 would negate the pattern altogether. Am I calculating correctly?
 

Casey Jones

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#70
Drot.

No more bargains for me.

I guess I'll have to load the truck with silver...and that's the problem. Gold I can carry in my pocket. Silver, the same amount, requires the van.

And it's not so easy to covert-store.

If the price holds to that day when I have to sell to live...and it's probably coming, what with inflation ready to pounce...then I'll be happy.
 

Curtman

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#71
 

Au-myn

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#72
So I got to wondering how often quadruple top breakouts fail. Not suggesting this one is gonna - but, you know - figuring out the risks...

Came across this chart

View attachment 160736

Certainly possible we go back and test support before moving higher - 2nd example on chart above.

So - that would put $1560 as a double bottom breakdown - and $1440 would negate the pattern altogether. Am I calculating correctly?
Every chart has it's own characteristics.
 

the_shootist

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#73
How much is enough? I don't know but I do know the market is so fooked up right now I'm staying on the sidelines
 

Curtman

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#74
So I got to wondering how often quadruple top breakouts fail. Not suggesting this one is gonna - but, you know - figuring out the risks...

Came across this chart

View attachment 160736

Certainly possible we go back and test support before moving higher - 2nd example on chart above.

So - that would put $1560 as a double bottom breakdown - and $1440 would negate the pattern altogether. Am I calculating correctly?
I think we are more likely to hit $2000 and test support at $1693
 

the_shootist

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#75
Like a freakin roller coaster today

1586274066729.png
 

d-lod

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#78
Silver is starting to wake up and 22 is the first buy signal to begin the reversal of trend.

A second buy signal above the Bearish resistance line in the neighborhood of 32 is what I am looking for to turn silver bullish.




Au-myn

Looking for your expert view on silver please.thanks
 

dpong

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#79
Let me try. 2$ box size is quite large, but still can be valid.

[Buy signal @ 24 or above turns her bullish.]

chart-10.png
 
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