Newbie chart help

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#1 Wed, Jul 13, 2011 - 11:57am
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: 1913 on Nov 8, 2014 - 5:31am
Wed, Jul 13, 2011 - 9:29pm
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: https://4.bp.blogspot.com/-maKTU70H6ug/TfEb6PjNHKI/AAAAAAAABDA/ixOsoTRlC...

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:

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

Not sure if this helps?

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