Buy low! Sell high!! That market advice is infallible, if only we can guess what prices are low and high. My way to make those guesses for myself is to extrapolate previous market action into a projection of where prices may go in the future. That is a long winded way to say I draw lines on a chart. The lines that are most useful to me are channels that form with lines through market lows and highs. For example, here is a logarithmic scale chart of gold this year.
This post was published at GoldSeek on Sunday, 21 August 2016.
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