If you do not have multi decade price channels, you are looking at the trees with out seeing the forest.

readtheticker.com has data for the most critical symbols back 50 to 100 years or more!

From Yahoo Finance , a narrow view.

The lest decade, below. This is a screaming bullish chart. Gold bounced off the lower channel, yes this is short covering of very large short positions. but now we wait for momentum hedge fund traders to buy the dip (or test) of the lower channel line. And they will !!
 

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Long term. The big channels matter!

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Investing Quote...

.."I believe that uncontrolled basic emotions are the true and deadly enemy of the speculator. That hope, fear, and greed is always present, these emotions sit on the edge of the psyche, waiting on the sidelines, waiting to jump into the action."..

Jesse Livermore

.."The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market."..

George Soros