{"id":961,"date":"2011-09-23T16:39:49","date_gmt":"2011-09-23T20:39:49","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=961"},"modified":"2011-09-23T16:39:49","modified_gmt":"2011-09-23T20:39:49","slug":"gold-falls-hard-not-my-best-call","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/","title":{"rendered":"Gold falls hard &#8212; not my best call"},"content":{"rendered":"<p>Spot gold broke support at $1700\/ounce, falling hard to $1650. The calculated target is $1600* or $1500 depending on whether you take the base of the <a title=\"Double Top\" href=\"https:\/\/www.incrediblecharts.com\/technical\/double_tops.php\" target=\"_blank\">double top<\/a> as $1750 or $1700.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-09-23-gold.png?w=525&#038;ssl=1\" alt=\"Spot Gold\" \/><\/p>\n<p style=\"text-align:right;\"><span style=\"color:#999999;\">* Target calculation: 1750 &#8211; ( 1900 &#8211; 1750 ) = 1600<\/span><\/p>\n<p>When you look at the trend channel on the weekly chart, however, it is likely that the sharp correction will overshoot the trend channel on the lower side. Possibly as low as $1300*.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-09-23-gold-weekly.png?w=525&#038;ssl=1\" alt=\"Spot Gold Weekly\" \/><\/p>\n<p style=\"text-align:right;\"><span style=\"color:#999999;\">* Target calculation: 1500 &#8211; ( 1900 &#8211; 1700 ) = 1300<\/span><\/p>\n<p>I have to eat my words from September 11: <em>&#8220;With Europe awash with stories of the imminent default of Greece, and German banks told to prepare for a 50% haircut on Greek bonds, this would be a good time to buy gold.&#8221;<\/em> Sure I qualified by warning that below $1800 all bets were off, but should have placed more emphasis on the overbought situation on the weekly chart and less on the approaching European tsunami.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spot gold broke support at $1700\/ounce, falling hard to $1650. The calculated target is $1600* or $1500 depending on whether you take the base of the double top as $1750 or $1700. * Target calculation: 1750 &#8211; ( 1900 &#8211; 1750 ) = 1600 When you look at the trend channel on the weekly chart, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold falls hard &#8212; not my best call&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[836,1578,3204,3301,3486],"class_list":["post-961","post","type-post","status-publish","format-standard","hentry","category-gold-commodities","tag-correction","tag-gold-2","tag-spot-gold","tag-support","tag-trend-channel"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold falls hard - not my best call - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold falls hard - not my best call - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Spot gold broke support at $1700\/ounce, falling hard to $1650. The calculated target is $1600* or $1500 depending on whether you take the base of the double top as $1750 or $1700. * Target calculation: 1750 &#8211; ( 1900 &#8211; 1750 ) = 1600 When you look at the trend channel on the weekly chart, &hellip; Continue reading &quot;Gold falls hard &#8212; not my best call&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-23T20:39:49+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2011\/2011-09-23-gold.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Gold falls hard &#8212; not my best call\",\"datePublished\":\"2011-09-23T20:39:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/\"},\"wordCount\":147,\"commentCount\":8,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2011\\\/2011-09-23-gold.png\",\"keywords\":[\"correction\",\"Gold\",\"Spot Gold\",\"support\",\"trend channel\"],\"articleSection\":[\"Gold &amp; Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/\",\"name\":\"Gold falls hard - not my best call - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2011\\\/2011-09-23-gold.png\",\"datePublished\":\"2011-09-23T20:39:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2011\\\/2011-09-23-gold.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2011\\\/2011-09-23-gold.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/09\\\/23\\\/gold-falls-hard-not-my-best-call\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold falls hard &#8212; not my best call\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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The calculated target is $1600* or $1500 depending on whether you take the base of the double top as $1750 or $1700. * Target calculation: 1750 &#8211; ( 1900 &#8211; 1750 ) = 1600 When you look at the trend channel on the weekly chart, &hellip; Continue reading \"Gold falls hard &#8212; not my best call\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2011-09-23T20:39:49+00:00","og_image":[{"url":"http:\/\/static.incrediblecharts.com\/images\/2011\/2011-09-23-gold.png","type":"","width":"","height":""}],"author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"Gold falls hard &#8212; not my best call","datePublished":"2011-09-23T20:39:49+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/"},"wordCount":147,"commentCount":8,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-23-gold.png","keywords":["correction","Gold","Spot Gold","support","trend channel"],"articleSection":["Gold &amp; Commodities"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/","name":"Gold falls hard - not my best call - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-23-gold.png","datePublished":"2011-09-23T20:39:49+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-23-gold.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-23-gold.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/23\/gold-falls-hard-not-my-best-call\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Gold falls hard &#8212; not my best call"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. 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Failure would complete a double top, warning of a correction to $1500\/$1600* (depending on whether you take the base as $1700 or $1750). Respect would indicate another test of $1900.\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":918,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/22\/gold-finds-safe-haven-support\/","url_meta":{"origin":961,"position":1},"title":"Gold finds safe haven support","author":"ColinTwiggs","date":"September 22, 2011","format":false,"excerpt":"Softening of gold prices from the \"stronger\" dollar is being offset by demand for gold as a safe haven from the looming euro-zone crisis. Respect of support at 1750 would indicate another test of $1900; confirmed if spot recovers above $1830.\u00a0 The pattern remains bullish at present, but breakout below\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1152,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/05\/spot-gold-correction-tests-1600\/","url_meta":{"origin":961,"position":2},"title":"Spot gold correction tests $1600","author":"ColinTwiggs","date":"October 5, 2011","format":false,"excerpt":"Spot gold is testing support at $1600\/ounce, but the primary trend remains upward. Expect a rally to the declining trendline. Breakout above $1700 would indicate the correction is weakening, while failure of support would test $1500*. * Target calculation: 1700 - ( 1900 - 1700 ) = 1500 Amex Gold\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":863,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/20\/gold-finds-support-2\/","url_meta":{"origin":961,"position":3},"title":"Gold finds support","author":"ColinTwiggs","date":"September 20, 2011","format":false,"excerpt":"Spot gold penetrated short-term support at $1800\/ounce and is testing the medium-term level at $1750. Compare the two declines in the current triangle\/consolidation, however, and buying pressure (accumulation) is evident. It took two days for price to fall to $1750 during August, with two strong red candles one below the\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1419,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/19\/gold-heads-for-1600\/","url_meta":{"origin":961,"position":4},"title":"Gold heads for $1600","author":"ColinTwiggs","date":"October 19, 2011","format":false,"excerpt":"Spot gold is headed for a test of support at $1600\/ounce; failure would offer a target of $1500*. In the long term, the primary trend remains up and breakout above $1700 would signal an advance to $1900. * Target calculation: 1700 - ( 1900 - 1700 ) = 1500 Amex\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1063,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/28\/gold-and-crude-suffer-from-strong-dollar\/","url_meta":{"origin":961,"position":5},"title":"Gold and crude suffer from strong dollar","author":"ColinTwiggs","date":"September 28, 2011","format":false,"excerpt":"Spot Gold is testing support at its initial target of $1600\/ounce. The long tail is evidence of buying support, but failure would test $1500. The primary trend direction remains up and, despite gold experiencing a strong correction, is unlikely to change. * Target calculation: 1750 - ( 1900 - 1750\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=961"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/961\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}