Triangles

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a community supported watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Register a free account to join the discussions. When you register an account and log in, you may enjoy additional benefits including access to market data/charts and additional members only rooms (including one for trade/barter with the community).

D

DSAbug

Yellow Jacket
Messages
1,045
Reaction score
2
Points
0
HUIRunway-3.png


This was as of yesterday's close.

I don't think i've ever seen a triangle pattern not resolve itself in one direction or another. gdx is flatish today.. I am guessing this is because of Option Expiration but still, pretty annoying.
 
As the angle gets more acute, the market appears more obtuse.
 
As a professionally trained technician I have never seen this. Seeing this kind of line hold so many times suggests someone is basically just sitting on it without regard to the potential to get a better price. Sorry but after 3 touches, I would back off to get a better price.

Considering how pressed this market is and how negative sentiment is, it's not rational action. By now we should have either seen a flush to lower prices or a bounce of 5-10% in the shares to let the triangle play out.
 
The rule these days seems to be that it can move so fast you can't react in time, or else it's going to be so slow you can't stand waiting that long. Seeing it all over.
 
You must log in or register to reply here.
Back
Top Bottom