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AXSTONE'S FINAL WAVE (5)

Zed

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"Ms Shelton has long been sympathetic to the gold standard, which the US fully abandoned in the early 1970s in favour of a flexible exchange rate for the dollar. “People call me a goldbug, and I think, well, what does that make them? A Fed bug,” she says. Her big dream is a new Bretton Woods-style conference — “if it takes place at Mar-a-Lago that would be great” — to reset the international monetary system, replacing the current regime, mostly based on floating currencies. Ms Shelton said countries should agree to tie their currencies to a “neutral reference point, a benchmark” — which she envisages to be a “convertible gold-backed bond”.

Fed candidate slams bank’s ‘Soviet’ power over markets
https://www.ft.com/content/46c4b186-8308-11e9-b592-5fe435b57

I just can't see that we are going back to gold like it was..... and convertability, well, yeah sure we have the gold, trust us! What? Audit Fort Knox? Piss off you troll! ---> I think that there would be all those credibility issues etc. Maybe we do... but ... hmmmmmm, I can't see it yet.
 
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axstone

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be your owns central bank. worry about yourself
Zed, whats with this candlestick?

xauaud.JPG
 

Zed

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Zed, whats with this candlestick?

Gotta be bad data?! Or someone with phat fingers just got fired! Nah... the bid stack would have soaked up a phat finger unless there was enough volume in it to knock the bid stack down that low... that would have made headlines... so no, must just be bad data! I think you will see it adjusted.
 

Zed

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I gotta go to sleep, see if ya can't muster up some buying on the old Conex!
 

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1562808312225.png




gold seems in hurry as it is iii of Ist upward move
 

Zed

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You guys are welcome on "The Fringe", bygones and all that. Play the ball is the only rule we have in Loony land!
 

Strawboss

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savvydon

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This is some rather unique technical analysis. I have seen trendlines, fibs, etc... but what you have drawn is not something I have encountered before...
I call that 'eyeballing it'... beauty is in the eye of the beholder.
 

Weatherman

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No, the banksters have not been dumping an unlimited number of paper shorts to press silver to new lows below $14. My guess is that there is not as much profit in selling silver short at these low prices, and there is a huge amount of risk, so the banksters are content to simply hold prices in the $14 - $16 range. A breakout to a higher high however would accelerate the risk of much higher prices, and I think the banksters would substantially increase the number of paper shorts if that is needed to prevent silver from closing above $16.25.
My guess that the banksters would not allow silver to close above $16.25 was OK on Friday, but what's the bankster plan for next week? I have some cash waiting to buy near the end of the summer doldrums (mid July to early August) in hopes for a substantial year end rally as shown in seasonals charts. So my Wild A$$ Hope (not good enough to be a real guess) is that the banksters will press both gold and silver lower next week and into Tuesday 7/30 to take some of the bullish wind out of metals' sails before the FED announces a widely expected rate decrease on 7/31. If metals prices are lower over the next ten days, I plan to be a buyer! YMMV so DYODD.

SILVER_zoom.jpg

http://sitekreator.com/Optimist/charts.html

Gold-40-year-seasonal.jpg

http://www.321gold.com/charts/seasonal_gold.html

Silver-40-year-seasonal.jpg

http://www.321gold.com/charts/seasonal_silver.html
 

Strawboss

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My guess that the banksters would not allow silver to close above $16.25 was OK on Friday, but what's the bankster plan for next week? I have some cash waiting to buy near the end of the summer doldrums (mid July to early August) in hopes for a substantial year end rally as shown in seasonals charts. So my Wild A$$ Hope (not good enough to be a real guess) is that the banksters will press both gold and silver lower next week and into Tuesday 7/30 to take some of the bullish wind out of metals' sails before the FED announces a widely expected rate decrease on 7/31. If metals prices are lower over the next ten days, I plan to be a buyer! YMMV so DYODD.

View attachment 136684
http://sitekreator.com/Optimist/charts.html

View attachment 136686
http://www.321gold.com/charts/seasonal_gold.html

View attachment 136685
http://www.321gold.com/charts/seasonal_silver.html
Whazzup old man?

Give me a holler next time you are in the DC area....hope all is well!!
 

axstone

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Barrick first stock to 1,000 a share?
abx 2025.png
 

axstone

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If they can get silver down to 15.40, They are still in control of the pricing mechanism
15_40.JPG
 

axstone

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Big picture
It will take a year to get to 26 dollar silver

5 year silver.png
 

axstone

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Buy the Dips under the 70 or 80 day moving averages
(The last break out from consolidation in the GLD October 2009 confirmed the bull market
from the low of November 2008 up until mid 2011
buying under the 80 day Exponential moving average was very rewarding

2008 to 2011 run.JPG
 

Strawboss

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Buy the Dips under the 70 or 80 day moving averages
(The last break out from consolidation in the GLD October 2009 confirmed the bull market
from the low of November 2008 up until mid 2011
buying under the 80 day Exponential moving average was very rewarding

View attachment 136810
Whats a current chart with the 80dma look like?
 

axstone

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notice the first break out from the horizontal line, tries to come back to the line, and then runs up huge into a rhino horn (as Jim Sinclair calls it)
GLD may close this gap and touch 128.50 area than really run
 

Strawboss

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Once it moves above 130 that would be definite confirmation that this rocket has ignition...

Thanks for posting...
 

axstone

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as you said
You have to think short seller have to have big ones to hope the gap gets filled
(or the short seller are the market still) wash trading is still going on
rocket.JPG
 

axstone

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Horizontal break outs pause breifly than just take off
break outs.jpg
 

Zed

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should I bring out the French curves??? :laughing:

No, but if you consider you self to be a T/A you should be aware of the concept and the pitfalls of trading a backward fitting curve into the future.

Just sayin...
 

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axstone

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No, but if you consider you self to be a T/A you should be aware of the concept and the pitfalls of trading a backward fitting curve into the future.

Just sayin...
I dont consider myself a TA, do you consider me to be a TA ? I look at charts, I draw on charts, I comment on charts
 

Zed

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Could you place the Bezier curves on the charts as an example?

Price growth tends to be exponential in freely traded markets so looking back you can always find a curve that will fit, french or whatever. If there was a way of picking the correct curve going forward, well, then we'd all be very rich!
 

savvydon

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Price growth tends to be exponential in freely traded markets so looking back you can always find a curve that will fit, french or whatever. If there was a way of picking the correct curve going forward, well, then we'd all be very rich!
Reminds me a bit of Elliot wave. Anyone can look back and label a wave pattern, but to be in real time and see how the wave is unfolding - there is the trick.