Posted by chartboy on 28th of Feb 2021 at 05:09 pm
Literally, the first time I can remember using an Andrews
Pitchfork in over a decade was about two weeks ago when I noted
that the regression channels and uptrends in SLV were inconsistent
with the price oscillations I was expecting (I was expecting a
downswing but we were were already on the support lines). Friday,
we gapped down and bounced off the lower fork I had created. Given
the price action and Gold's bounce at the 1.618 expansion it is
clear that Friday's selloff was not some random reaction to other
assets as is the case many days in the metals.
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Literally, the first time I
Posted by chartboy on 28th of Feb 2021 at 05:09 pm
Literally, the first time I can remember using an Andrews Pitchfork in over a decade was about two weeks ago when I noted that the regression channels and uptrends in SLV were inconsistent with the price oscillations I was expecting (I was expecting a downswing but we were were already on the support lines). Friday, we gapped down and bounced off the lower fork I had created. Given the price action and Gold's bounce at the 1.618 expansion it is clear that Friday's selloff was not some random reaction to other assets as is the case many days in the metals.