V. 8:14 (584-587): Mystery Charts by John Sweeney - DRAMATIC MYSTERY CHARTS
Product Description
MYSTERY CHARTS
by John Sweeney
DRAMATIC MYSTERY CHARTS
All entrants save one for the July Mystery Chart correctly identified COMEX gold (variously, June and March) and most amazingly traded it correctly for the subsequent breakdown (Figure 1). Since the move was so dramatic, heavy emphasis was placed showing how the action before the break led to the break.
Along those lines, John McCormick of Perris, CA, a private trader (714-943-1658), submitted the most comprehensive analysis covering all the bases: long-term to short-term horizon; trend lines, support and resistance; cycles; and his own unique concept of the "central zone" of the trading range. He's our newest Certified Technical Genius, and his charts and comments follow.
Second, third and fourth places went, respectively, to Bernard Dyer of Los Angeles, CA (RSI and ADX indications properly interpreted); Marvin Hass of Alexandria, VA (trading against a simple 40-day average); and Peter Paul Spica of Attica, MI (another ADX devotee using parabolic stops). Unfortunately, we don't have room to publish their analyses.
Most other entries were downgraded for failing to deal with the question of what to do on March 19. Several dealt with what had been done during the February break and several dealt with what had been done after the March 20th to March 26th break, but those weren't the challenge! Winners will focus on the question asked.
DRAMATIC MYSTERY CHARTS
All entrants save one for the July Mystery Chart correctly identified COMEX gold (variously, June and March) and most amazingly traded it correctly for the subsequent breakdown (Figure 1). Since the move was so dramatic, heavy emphasis was placed showing how the action before the break led to the break.
Along those lines, John McCormick of Perris, CA, a private trader (714-943-1658), submitted the most comprehensive analysis covering all the bases: long-term to short-term horizon; trend lines, support and resistance; cycles; and his own unique concept of the "central zone" of the trading range. He's our newest Certified Technical Genius, and his charts and comments follow.
Second, third and fourth places went, respectively, to Bernard Dyer of Los Angeles, CA (RSI and ADX indications properly interpreted); Marvin Hass of Alexandria, VA (trading against a simple 40-day average); and Peter Paul Spica of Attica, MI (another ADX devotee using parabolic stops). Unfortunately, we don't have room to publish their analyses.
Most other entries were downgraded for failing to deal with the question of what to do on March 19. Several dealt with what had been done during the February break and several dealt with what had been done after the March 20th to March 26th break, but those weren't the challenge! Winners will focus on the question asked.
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