Home » Unlabelled » Geez, There's Always Another Possibility, You Know?

Geez, There's Always Another Possibility, You Know?

*
Today we came within an eyelash of taking out the price level I identified as the swing high for the US Dollar and the basis on which I proclaimed the top of the US Dollar's current daily cycle - further defining this occurrence as EXTREMELY BEARISH.
*
And, today we also came within an eyelash of taking out the price level I identified as the swing low for Gold which I used to proclaim as the beginning of a bullish new daily cycle for Gold.
*
Wow, those were close calls.
*
This evening I got to looking at the chart of Gold and well, I got to wondering about something. I wondered how often the True Strength Index (TSI) indicator called the daily cycle lows for gold in the past. And, I wondered how well the Money Flow Index (MFI) indicator called the daily cycle lows for gold in the past.
*
So I made this chart and, heck, this is getting interesting. It turns out that the TSI did an incredibly great job of calling nearly every single daily cycle low to the day for the past year.
*
Just as amazing to me......so did the Money Flow Index (10).
*
Take a look at the chart and you will see I have identified the date of the daily cycle bottoms just under price, and the date of the TSI and MFI indicators just under their bottoming spike.
*
So what is this 'another possibility', you ask? Well, I wonder if the price of gold is going to trade just a tad LOWER than what I think is the daily cycle low price of $1315, thus creating a positive divergence with the TSI indicator as it has done three times in the past year, THEN gold is going to take off.
*
Also, check out the current reading of the MFI (10). At 20.19, that sure looks like a bottom to me....or darned close.
*
And a third observation. Price is only 10% above the 200 dma. Even the little run up we had last December made it to +25.3%. Surely this is not the top for gold. No way. C waves do NOT end with a whimper - EVER. There is more upside to come!
*
Maybe you see something on this chart that I have missed or worse yet, misinterpreted. Please let me know, for goodness sakes! tsiTrader@gmail.com
*

Terimakasih anda telah membaca artikel tentang Geez, There's Always Another Possibility, You Know?. Jika ingin menduplikasi artikel ini diharapkan anda untuk mencantumkan link https://econominws.blogspot.com/2010/10/geez-there-always-another-possibility.html. Terimakasih atas perhatiannya.