Newbie chart help

2 posts / 0 new
Last post
#1 Wed, Jul 13, 2011 - 11:57am
1913
Offline
-
SA, TX
Joined: Jun 14, 2011
11
24

Newbie chart help

I'm completely new to looking at charts - first visual was when this blog started, so bear with me.

The daily chart to me looks like a pattern is forming (end of Jan start) with 1.5 month, 10% gain; followed by 2 weeks, 5% correction, followed by consolidating 2/3 weeks. Does this look correct and should we be expecting 1640 gold mid August, followed by 1560 gold at the end of August? Or are patterns like this fleeting and non-repeatable (to make up a word)?

I'm trying to use bollinger bands, and they seem to agree with this assessment. Key word being trying.

Thanks in advance

Edited by: 1913 on Nov 8, 2014 - 5:31am
randomness