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Mike. Ballinger=“In the precious metals markets, you SELL “breakouts” and you BUY “breakdowns”

Posted by Richard640 @ 19:33 on February 3, 2019  

I received a tweet from a “chartist” that informed me of a “technical breakout” in gold complete with a “highly-compelling “Golden Cross” (“GC”) having occurred back on December 23rd. I returned a chart of my own that shows how many times a Golden Cross has resulted in a reversal, especially when combined with an RSI above 70 and that is, by the way, exactly what we have today. In March 2016 we had a GC at $1,250 followed by a quick pop to $1,300 followed by an immediate crash to $1,225; in mid-2017, we had a GC at $1,270 followed again by a $1,300 print followed by a crash to $1,200 immediately thereafter. The point I make is this: Technical “signals” are used by the bullion bank leviathans to sucker in the CTA’s and the public. They purposely set up these events in order to capitalize on MAXIMUM VOLUME which invariably spikes in response to the interpretation by the unsuspecting adherents to technical analysis. Time after time I have written about this phenomenon and if I were to have a “Ballanger Rulebook”, number one rule would be. Now, it doesn’t always work but if you are a trader using probabilities as a guide, my rule is pretty reliable.

4.pngWe close out the month of January with three incredibly-important “indicators” flashing “ALL CLEAR” signals for stocks.

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.