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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (48238)	4/5/2013 1:53:35 AM
From: John Pitera	Respond to of 221961

I absolutely agree with you.......if you go all the way back to Edwards and Magee...... seminal book on technical analysis.... they point out that in any type of triangular consolidation formation.... if you get more than 3/4 of the way through say a symmetrical triangle and you do not get an upside or downside breakout or breakdown..... that it largely negates the pattern...... and that is clearly the case here. so you have made an excellent observation and I said that this was a relatively chart to read in one of the world's trickiest markets. we are in 2013 and yet people still say with a straight face.... that the price of Gold is "Fixed" that like the parody of Comedy Central several years ago that said when "News breaks..... we fix it" The current five participants in the fixing, who must be members of the London Bullion Market Association, are: Scotia-Mocatta — successor to Mocatta & Goldsmid and part of Bank of Nova Scotia Barclays Capital — Replaced N M Rothschild & Sons when they abdicated Deutsche Bank — Owner of Sharps Pixley, itself the merger of Sharps Wilkins with Pixley & Abell HSBC — Owner of Samuel Montagu & Co.. Société Générale you really should spend 20-30 minutes one day to read who these conmpanies are and the lineage and ownership off these banks. the reason that N M Rothschild and sons abdicated was to further distance themselves from being the obvious directors of global price setting and decisions..