Loading ...One particular pattern has driven PM investors who use TA bonkers, that is the crushing/reversals of clear consolidation pattern break outs, that defy all known previous behavior of mkts.
Point and Figure charts are wonderful for showing such patterns and they create measurable targets from them. Once a mkt breaks out above base pattern, it may back test that break out. but very rarely does more than kiss the break out and then resume it’s fast move higher, due to shorts panic covering along with new buyers happily paying up.
Yet since the scum have taken over the PM mkts, one of their ‘specialities’ is to reverse/smash most bull breakouts back into the consolidation area, thus crushing any enthusiasm yet again.
Moaning about watching this happen once or twice might be considered sourgrapes, but when it becomes the norm, something else is clearly going on..ie the scum are at it again.
Then when one sees what is so far, a clearly free mkt at work, namely Bitcoin in action, then one sees all the old rules still apply, new mkt rules, algo’s etc are a load of bollox ….Just check out tdys new Hi break out……4850/4750 goes and it it rallies over 8 % so far.
Meanwhile poor old Gold is too scared to even sniff 1300, as it knows the scum will never tolerate such an insult after Fed Speak…..
So no matter how grim tdys action is in PM’s, the ‘action’ is entirely false…once the scum are routed it too will boom after break outs.