I did. Five posts down from your initial post. Here is the update. The conclusion of two totally different methods is still to sell, which is why I am buying. And I resent being called a comedian. I am a satirist. The other TA offerings in your thread are lowly vaudevillian by comparison, all pratfalls and droopy drawers.
Technical Analysis of Gold
- Thread starter DrPepper
- Start date
The COT numbers came out today and are quite bullish for silver and to a slightly lesser degree for gold. Notice that the COT commercial index indicates that the commercial traders (smart money) are more long than they have been in 8 months, meaning that they were accumulating silver last week, while most of the ET posters have been giddy about the gold and silver bugs getting slammed. This, combined with the fact that silver is in an uptrend and the weekly stochastic reading is oversold, has been associated with a rise in silver prices every time it has occurred in the last year (see chart)
Nice chart
Although this specific situation to me looks like a bear flag formation, but I have been fooled before. Where did you get your middle indicator?
From Larry Williams by taking his Picture Perfect Trading course:
http://ireallytrade.com/lwu.htm#videos
I believe that he only supplies his indicators to GenesisFT.com for use on their charting platform, Trade Navigator.
Thats pretty cool, what is that actually measuring? Do you know exactly?
He openly disclosed the formula in his book "Trade Stocks and Commodities with the Insiders--Secrets of the COT Report". If you used a 1 year lookback period, the formula would be:
[(Current Week COT commercial net long/short position minus the lowest value of the last year), divided by (the highest net COT commercial high of the last year minus the lowest low of the last year)] times 100
On my chart, I used a 4 month lookback period as seen by .333, indicating 1/3 of a year.