Similar to oil and inverse to my DXY idea, gold is in a clear pattern for eventual break out early next year when I think we'll see a moajor market correction begin. This chart has stayed untouched as I drew it months ago.. fractals inside bigger pattern a very clear. Combined time frame momentum in my indicator below also shows momentum in a clear bullish swing long into the coming years.
I guess the golden banana is being put to a test at the moment. I'll be impressed beyond belief and will remain your banana theory follower forever if it holds and bounces off the lower pink border. : )
Btw, in accordance with the theory what are the implications of Gold going totally bananas and penetrating the $1,238 level (i.e. the pink banana) to a certain degree. Is the expectation that the lower border of the black banana should save the commodity from free falling into the bear market again?
VirtualFax
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So far, so good. Even Oct 4 ended up fitting into your model nicely. Very impressive.
slippyman
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Thanks :) Took the spec long at that low and work so far. Will scale back if it touches top of smaller pattern and scale up any bounce of that bottom level
VirtualFax
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Man, you might be onto something here. I know you mentioned in the other post that you are a busy individual and have a day job (in fact, me too) but sharing the bananas (knowledge) might bring you as much cash as the trading itself : )
slippyman
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its a charting method I developed myself and the macd variant of my own... is a macd combined with multiple time frames to show bias.
dchua1969
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may i know what indicators are you using? it is very interesting..
I guess the golden banana is being put to a test at the moment. I'll be impressed beyond belief and will remain your banana theory follower forever if it holds and bounces off the lower pink border. : )
Btw, in accordance with the theory what are the implications of Gold going totally bananas and penetrating the $1,238 level (i.e. the pink banana) to a certain degree. Is the expectation that the lower border of the black banana should save the commodity from free falling into the bear market again?