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The ACD Method
- Thread starter sbrowne126
- Start date
Pretty serious breakdown in the metals here. Gold and silver both are dropping like a rock. Gold will at least test the QTR A down around 1557. I think there is a good chance we will over shoot that and test 1500.
The QTR A down in silver is around 28. That will get tagged as well. I think Silver could touch 25.
The yearly A down for gold is 1462 and for silver is 24.30.
The QTR A down in silver is around 28. That will get tagged as well. I think Silver could touch 25.
The yearly A down for gold is 1462 and for silver is 24.30.
The Gold miners have already taken the QTR level out and they are leading the metals lower. The miners have already blown through their yearly A down at 47.54. This could get ugly.
Quote from Maverick74:
Pretty serious breakdown in the metals here. Gold and silver both are dropping like a rock. Gold will at least test the QTR A down around 1557. I think there is a good chance we will over shoot that and test 1500.
The QTR A down in silver is around 28. That will get tagged as well. I think Silver could touch 25.
The yearly A down for gold is 1462 and for silver is 24.30.
yep very ugly.
Quote from kinggyppo:
already long, Mav can you explain how you learned to tape read at Worldco and whether that still applies.............thanks.
Sorry, missed this post earlier. I learned to read the tape from the best tape readers in NY. I basically would stay late at the office every night and would read through the entire time and sales of every stock I traded for 6 months. I would go over every single print. I kid you not. I learned to read the patterns. Back then there were no algos so the footprints were pretty clean. You learned what a plus tick bid was and a minus tick offer. You learned about double prints, go along buyers and sellers, you learned how specialists acquired stock on down ticks and got short on upticks. You learned how size would step up with only 100 shares on the bid. Honestly there were no short cuts, no secrets. Just a lot of long hours. And it paid off.
30 days number line for GC and SI. Finally took a short in SI as i was burned badly once long time ago by Silver.
Quote from Maverick74:
Pretty serious breakdown in the metals here. Gold and silver both are dropping like a rock. Gold will at least test the QTR A down around 1557. I think there is a good chance we will over shoot that and test 1500.
The QTR A down in silver is around 28. That will get tagged as well. I think Silver could touch 25.
The yearly A down for gold is 1462 and for silver is 24.30.