Gold

[scooterscot]

Dollars are so yesterday - Euros are the future (after Bitcoin that is....).

 

[AtW]

Dollars are so yesterday - Euros are the future (after Bitcoin that is....).

People who say that usually got neither...

 

[scooterscot]

Massive spot gold correction on the cards.

Stochastic just crossed down on the monthly chart, weakening strength in the face of increasing price. Bearish divergence I think it's called.

No one will be spared. Not even the children.

 

[Zigenare]

Massive spot gold correction on the cards.

Stochastic just crossed down on the monthly chart, weakening strength in the face of increasing price. Bearish divergence I think it's called.

No one will be spared. Not even the children.

I've got to quote this tulip for posterity!

 

[scooterscot]

I've got to quote this tulip for posterity!

I've got to quote this tulip for

 

[northernladuk]

Massive spot gold correction on the cards.

Stochastic just crossed down on the monthly chart, weakening strength in the face of increasing price. Bearish divergence I think it's called.

No one will be spared. Not even the children.

So **** all to do with any world matters, economy, markets and so on? Just some patterns on a chart?

 

[Jog On]

So **** all to do with any world matters, economy, markets and so on? Just some patterns on a chart?

It's not uncommon for the technicals to drive the fundamentals. People assume that the charts are just a visual representation of market sentiment, but a lot of the time things like interest rates decisions and central bank interventions are done to try and curb speculative trends and bubbles.

Soros (love him or hate him - he's very good at this type of stuff and has results to show for it) wrote quite an interesting theory on reflexivity all about this:

Reflexivity theory states that investors don't base their decisions on reality but their perceptions of reality. The actions that result from these perceptions have an impact on reality, or fundamentals, which then affects investors' perceptions and thus prices. The process is self-reinforcing and tends toward disequilibrium, causing prices to become increasingly detached from reality.

This is why technical traders like trends and methods like Elliot Wave have stuck around so long.

 

[scooterscot]

So **** all to do with any world matters, economy, markets and so on? Just some patterns on a chart?

That's what the price of 'spot gold' is telling us.

Considering the state of the world economy, the debt, continuing uncertainty, you'd think the price of gold would have shot up.

 

[Lance]

Massive spot gold correction on the cards.

Stochastic just crossed down on the monthly chart, weakening strength in the face of increasing price. Bearish divergence I think it's called.

No one will be spared. Not even the children.

WTF does that even mean?
Is it going to go up or down?
Should I buy or sell?

 

[northernladuk]

It's not uncommon for the technicals to drive the fundamentals. People assume that the charts are just a visual representation of market sentiment, but a lot of the time things like interest rates decisions and central bank interventions are done to try and curb speculative trends and bubbles.

Soros (love him or hate him - he's very good at this type of stuff and has results to show for it) wrote quite an interesting theory on reflexivity all about this:



This is why technical traders like trends and methods like Elliot Wave have stuck around so long.

And to some extent I can understand all that but Scoots posts charts about Gold, Bitcoin, Shares. Each as a very different animal, one is a fundamental base of monetary systems (arguable I know but you get my drift), the other doesn't even exist and the last is tied to how a business performs and market conditions.
I just cannot get how the same techniques can possibly work across all three with so many different factors that drive highs and lows. It doesn't make sense so unfortunately easy for people like me to just dismiss it as a complete sham. I could understand if it worked for bitcoin as it doesn't exist so you can use charts to predict how people react to previous movements as there are no other tangible factors affecting the price. Maybe so for business to an extent due to people selling high, buying low with the actual business performance and market conditions only being a factors but gold is such a slow burner and affected by much bigger things how can standard technical analysis work?

Maybe it does really work but having a skin full of Scoots and his utter nonsense missing the mark by a mile multiple times has jaded my view.