Newbie chart help

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1913
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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 admin on 11/08/2014 - 06:31
thecoloredsky
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what chart?

What chart are you looking at? I'm not a big chartist but Turd uses a simple way of determining price movements.

From what I've learned, he uses steps, triangles, support levels, and no-nonsense.

Example: http://4.bp.blogspot.com/-maKTU70H6ug/TfEb6PjNHKI/AAAAAAAABDA/ixOsoTRlCB8/s1600/6-9pmgold.jpg

Bollinger bands.... not many people talk about that in commodities from what I've read.

Pailin's Trading Thread uses RSI when dealing with silver:

http://www.tfmetalsreport.com/forum/pailins-trading-corner/242

Not sure if this helps?

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