Chartology for Silver Bugs

“Chart pattern analogs have long been a popular way to get an insight into future price structures.  When you see a structure in the current market that looks a lot like a structure in a previous period, then you can use the data from that previous period to look ahead to what current prices might do, assuming that the pattern resemblance continues.It is a standard principle of science that experiments should be repeatable. The rules of physics should operate the same way everywhere.  So if you drop a brand new tennis ball in New York, it should bounce the same way that a brand new tennis ball bounces in Melbourne. The rules of market physics are a lot different and often more variable than the rules for the physical world, but the presumption behind chart pattern analogs is that if you are seeing the same behavior, then the same sorts of inputs and rules of motion are at work.”

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