The Big Boys, page-378

Orwell the lines are all fans, no trendlines on that chart. The dotted are 1x1 and the solid reds are 1x2 / 2x1. I've deleted the rest to keep the chart clean. When price drops below the 1x1 and puts in a low on the lower fan I run a new set of fans out from that low to see if it will support price. If it does it suggests the trend is accelerating. It hasn't in this case. The 120 could be a high as well and it doesn't bottom until further out, let price dictate direction, but if Gold bottoms at the same time and NCM puts in a low at 120 it could be significant, even if it doesn't drop below the Dec 2013 pivot.. The other scenario is Gold just trends sideways in a range for several years like it did after 1980, taking Gold producers with it.

Just my 2c.