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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (112753)	4/26/2008 7:55:20 PM
From: Davy Crockett	Read Replies (1) \| Respond to of 312641

It depends. Some traders tune the boxes and others use default settings. I'll give you some examples. In this chart (the chart that I gave you) The PnF is set for a 1%, 3 box reversal. And in this chart, which is tuned up a bit with a 3% 3 box reversal You can clearly see the long-term objective of $1404.00 So the question is this: Which chart is accurate? Answer is they both are. It depends somewhat on what kind of trader/investor u are? Can you really live with the volatility? Are you a long-term investor?If you can then the PnF chart objective with the 3% bullish price objective is for u. It is my experience (well... at least me) that most people bail on a significant down move in the market. It is interesting to note that the top of the triangle in the last chart is $712.00 & that a move down to the upward trendline @ $394 would not violate the 'UP' trend in GOLD. All FWIW of course.