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Strategies & Market Trends : Ride the Tiger with CD
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To: Canuck Dave who wrote (173700)8/31/2009 8:00:39 PM
From: TheSlowLane  Read Replies (1) of 312987
 
Yes, I posted this one this morning at NRS:



It's from Netdania, but basically the same chart you are looking at. This occuring within the right shoulder of a large inverted H&S that many technicians have pointed out over the past several weeks. In the case of the symmetrical triangle, I believe the probabilities are in favor of a resolution in the direction that was predominant prior to the pattern, so in gold's case...up. The only thing that worries me is how many people are seeing the same thing and expecting the same outcome, even Dennis Gartman. So it's either an idea whose time has come or a shared mistake. Hopefully the former. As I have said a few times lately, the way the juniors have been trading makes me think we are going higher.
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