“Technical analysis is key to understanding what's going on with gold” - Northstar and Badcharts Cryptocurrencies
“Fundamentals are further from reality than price charts,” said Karim."The price chart is the aggregate of all these guys who have fundamental stories, who push money left and right. Everybody has a fundamental reason and narrative, but the price, we're so lucky it's free! Anybody could look it up.”
“That happens very, very rarely, and in an average investor's lifetime it happens just once or twice.” Karim said that investors and traders who pay attention to short-term charts can’t see the forest for the trees, and could miss out on once-in-a-generation price moves. And all of this assumes a steady and incremental progression. If markets are rocked by a major unforeseen event such as a 2008-style systemic banking crisis, these major established trends will only be magnified and accelerated. “If we do start to see some kind of financial crisis breaking out, it wouldn't worry me at all in terms of precious metals. What it probably would do is result in stock markets going absolutely nowhere for 20 years.
“But let's just think about it a little bit more carefully. The key takeaway from this chart is highlighted in green, four periods of time, three in the past and one that's taking place now, where the US Dollar Index has broken down from a consolidation pattern or a rising pattern.’
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