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This is interesting. I've been working on the precision of the long-term dollar index trend line , because I think it's an important line. So, I finally got a really precise grab by using the magnet feature to go from shadow to shadow in 2014 through 2018 and then auto-extending the line to the right. And wow, we are on that line like a flea's eyelash right now:
So, keep a close eye on it. Let's see if it can hold.
So, keep a close eye on it. Let's see if it can hold.
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I'm changing the goalposts again. Now using the magnet points of 2011 and 2018, we're just above this new trend line. Again, I'm not making predictions, I'm only looking to discover if one of these trend lines will provide a strong bounce.
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So if it doesn’t hold/our friends at the central bank succeed in epically suppressing it, do you turn bullish?
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@horacejunior, No, definitely no. It's broken that trend line already tonight. It's just making me even more bearish :)
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@dereckcoatney, nice. equally excited for the carnage that creates it
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I was wondering if we breached the line on Fri. Now I know! Like magic! Let's see, how much am I paying for this subscription?? Oops.
Thanks buddy.
Thanks buddy.
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And when it bottoms it will be a wave C low. A 5 wave move up will confirm, I take long position on a wave 2 set exit under bottom if wrong. There's hardly a dollar bull to be found, gold and silver getting close. though silver less than 50% of double top in 1980 and 2011, it always goes wild near the end of a move, we're getting there, maybe another $2-4 and were done. Breaking down further will mean we're closer to an important bottom.
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