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Re: Triple Tops

By: Decomposed in 6TH POPE | Recommend this post (0)
Fri, 07 Apr 23 1:24 AM | 36 view(s)
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Msg. 41644 of 60008
(This msg. is a reply to 41630 by Zimbler0)

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Zimbler0:

Re: “Hmmmm. . . Does this mean gold is likely to go down soon?”
No - because gold hasn't had a triple top. It *might* have a triple top, which is different. The curious thing about triple tops is that they can't be identified as such until they've already peaked and dropped. And, yes, it's true that investments that triple top usually do go significantly lower.

But suppose gold sails through resistance and doesn't stop until $3,000. In that case, it didn't have a triple top at all.

Most of the time when investments threaten to triple top they don't. They break through resistance and continue upward. Third time's the charm, you know?








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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months




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The above is a reply to the following message:
Re: Triple Tops
By: Zimbler0
in 6TH POPE
Thu, 06 Apr 23 9:48 PM
Msg. 41630 of 60008

>>>
What Is a Triple Top?

The triple top is a type of chart pattern used in technical analysis to predict the reversal in the movement of an asset's price. Consisting of three peaks, a triple top signals that the asset may no longer be rallying, and that lower prices may be on the way.

http://www.investopedia.com/terms/t/tripletop.asp
>>>


Hmmmm. . .
Does this mean gold is likely to go down soon?

Zim.


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