The setup for the big trade
Friday the 13th and it's about time that I give myself a little pat on my shoulder
We got a bounce just as predicted.
The trendline isn't mine, I used information provided here. I think that is what this thread is all about. Use the thread to make good decisions when trading markets.
Mother Natures Money, pretty obvious isn't it...
When the Silver planet is brightest, the tears of the Sun feel the weakest.
Have a nice weekend!
Being the perfectionist that I am, I couldn't let rest the suspicion that the online measuring cursor gave the wrong impression about the ml price. So I calculated the ml value at the low basis the 30m chart. It is 1292.85. This translates on a practical level to 1292.9--which was the low.
On the 5m and 1m charts, the low was made on the far h value. So, there was a clear and quite precise ml x far h at the low.
The question arises, how do you actually play this? My feeling is to buy after the low is made at the lines and you see about where the close is going to be. You buy at the market a few seconds before the announcement with an attached stop loss order assuming the close is above the confluence. It's a gutsy play to make. But we've seen many times how the top or bottom culminates with a spike up or down at just such a confluence. Here, price broke below the 1m chart ml literally "at the last minute" to reach the far h, and then closed above it.
Or maybe you buy some arbitrary amount above the market on a stop, such as 1293.50, some 5-6 ticks higher than the close, just to go with the immediate market trend. But who knows what the fill might be in such a stampede. It could be points away. Maybe there is no great way to play this.
Had I bought seconds before 8:30 ET, I think my initial stop would have been below the prior day's low. Maybe.
And we're at the end of the continuous G-V plateau.
So What, Argentus?
This was sad news:
However, it is quite naïve to underestimate the depths of depravity Counterfeiters & their Confederates will sink to in order to continue perpetrating their Fraud.
The peaks in G-V from here on for a while, sometimes at high levels, are more isolated from each other.
Meaning what exactly?
If you look at a chart carefully, you will notice that the price of gold, in USd(iapers) which is the main (counterfeited) currency cross for gold, is back at the price it was at beginning of September when I posted that G-V was rising and would stay up for six weeks, with all that this implies.
Again, meaning what, Argentus?
Does such implications/ “imply”:
that Real 'Money' is a Steal at these Manipulated Fiat (ie "Market") Price Levels?
During this period, gold has risen up and failed to breakout through the July 2016 highs and then declined and is currently tricking around support visible since July 2013 approximately.
That's an annual lower high in the rear view mirror, and presently bouncing on a four year pivot.
Have you ever tried applying the Rule of K.I.S.S., Argentus?
Simply take the known quantity of above ground stock of Gold on the entire Planet, and divide same amongst the current inhabitants of same.
How many grams of Gold per Capita does your Math figure that equates to?
For laughs, let's just imagine that some calamity were to occur which wipes out ½ the World's Population. How many grams of Gold per Capita would that amount to?
& for hysterical laughs, let's repeat that scenario once again, in which case, how many grams of Gold per Capita would exist then?
Funny how for the last Decade, China, India, (hell, All of Asia) plus Russia, even lowly Kazakhstan has been stockpiling Gold.
Can the same be said for for Great Britain, Europe, Japan, U.S., Canada, Australia, etc. ?
It is quite easy to manipulate Fiat/ “Market” Price, when the counterfeiting Banksters & their complicit lackeys in Gov'ts are working together to defraud their Citizens.
Why else does anyone think that “derivatives”, ETFs, etc., were even invented for?
No One & No Scam can defy the Laws of Economics & Nature indefinitely ( consider: John Law/ Mississippi bubble Scam) & when the Defecation Hits The Oscillation, no one alive is going to care about what “Charts” or “G V Points” reflected upon the Matter.
Got “MONEY” ?
Paper is poverty,...it is only the ghost of money, and not money itself" President Thomas Jefferson, Letter to Edward Carrington 1788
“Wall Street had been doing business with pieces of paper; and now someone asked for a dollar, and it was discovered that the dollar had been mislaid.”
"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."- Anonymous
"Some interesting stuff on W.D. Gann I just ran across.
He placed great emphasis on the 90-year cycle, which, Gann advocates say, predicts a potential financial crisis occurring in 2019. This year will be 90 years after the financial crisis of 1929, which itself occurred roughly 90 years after the Panic of 1837. And a smaller cycle of note, 144 months, also coincides with 2019: 144 months is the span between 2007 (the most recent major financial crisis) and 2019.
Some of Gann’s less esoteric ideas are commonly used in technical analysis tools today, often integrated into charting and trading software platforms. A common example is Gann Fans, consisting of a series of diagonal lines called Gann Angles. These angles are superimposed over a price chart to show potential support and resistance levels.
One of the strongest pieces of evidence bolstering Gann’s reputation as a master trader hails from a 1909 Ticker and Investment Digest article by Richard D. Wyckoff, a well-respected figure on Wall Street at the time. The article describes Gann’s performance recorded by an independent observer: “During the month of October, 1909, in twenty-five market days, W D Gann made, in the presence of our representative, two hundred and eighty-six transactions in various stocks, on both the long and short side of the market. Two hundred and sixty-four of these transactions resulted in profits; twenty-two in losses. The capital with which he operated was doubled ten times, so that at the end of the month he had one thousand percent of his original margin.
At the other end of the spectrum, Alexander Elder, in his 1993 book Trading for a Living, presented a more skeptical view, later used as evidence by Gann doubters. "Various opportunists sell "Gann courses" and "Gann Software." They claim that Gann was one of the best traders who ever lived, that he left a $50 million estate, and so on. I interviewed W.D. Gann's son [John L. Gann], an analyst for a Boston bank. He told me that his famous father could not support his family by trading but earned his living by writing and selling instructional courses. When W.D. Gann died in the 1950s, his estate, including his house, was valued at slightly over $100,000. The legend of W.D. Gann, the giant of trading, is perpetuated by those who sell courses and other paraphernalia to gullible customers."
Gann defenders counter that John L. Gann's statement should be viewed with the knowledge of the bitter falling-out that he had with his father, which stemmed from an ill-fated decision to join his father's business in the 1940s: the two wound up parting ways. "
to take something totally catastrophic to break this stranglehold! Forget about gold and go to sleep. the world is totally fucked up and logic doesnt matter and hasnt for almost 10 years. Physical is only way to own it.
Just for the record AM you were dead wrong on your move in gold. You indicated that we would see new yearly highs in gold by mid October. Obviously didnt happen. Are you back to the thought that we are not going anywhere for a long time me? Years?
abandon ship (again) on gold because it aint fucking going anywhere and buy garbage biotech and tech stocks until your eyes bug out. This planet needs destroyed and rid of the bankster vermin.
after a trip out of town.
Right now my daily chart looks like this. It's very early in this potential turn higher and third wave. I've assumed we have a major pivot low in place, marked M?, and mechanically drawn the line set appropriate to this assumption.
Today saw a good-volume rally and ORD after price reached and exceeded the possible new MLH at 1280.0, all after a minor pivot zoom up. That is the basic pattern (the "Willie Nelson") presenting itself. (Yesterday, price missed the MLH by .5 point.) This is a possible pivot 2, generally the most important positioning for a potential third wave higher. Today's low is a critical technical level for the WN pattern.
Given the daily min-2 pivots (marked with dots) in the recent downtrend, there is now a possible "p5 short" pattern that projects price to the r1 line shown at a minimum, assuming price can close over the "M-1" trendline shown (actually the 0-4 line of the p5 short pattern).
Tonight the selling has been intense enough to close an hourly bar under the new zoomed m3 ml, after price reached the far h on the 60m chart. A sprinting advance this evening is now unlikely; we are more likely to see back and fill trade as a correction to today's thrust; from there, a new high above 1293 might be possible. The MLH value for Friday is 1282.0 (not drawn).
I would be more bullish if there were at least 5, m3 60m pivots to today's low from the high 3 days ago, but there are only 3. The AR line drawn (dotted)--and the retracement inside it-- suggests we may get more downside below 1278. Maybe, therefore, we get an expanded pivot formation on a 5th such pivot lower--that would be important to watch for, as the bullish potential would be greater than what there is now. The ORD is powerful, however, and we may not get a retest of the low.
So it's too early to make any call, only to look a potential price action. Further out, we'll see if there is sufficient buying power for price to reach any of the upside target lines, or even become a major pivot.
It's important to consider that the possible Major pivot low M? is a possible P2 in its own right, and there could be a very strong move higher into the end of the year. We shall see. Maybe we get a new low to make the true Major pivot low. In that regard, the lowest trendline on this chart is very, very important to hold if gold is to retain strongly bullish potential going into 2018. Price may very well reach it before the end of this year.
Argentus, the seasonal charts I've seen, without deep study, show that past October 31, gold is seasonally strong into end of December. This is from 30 year charts that might mean little over the past 10 years.
We are not privy to the true and accurate gold holdings of these nation states, and to trust their accounting published in public would be foolhardy.
And the Central bankers: will they end QE money printing for a pullback before the big sting, or will one flow seamlessly into the other? I assume they will go for the liquidity rug pulling exercise first to transfer assets into "the right pockets" before the main event. But it can happen otherwise.
No Sh*t Sherlock!
Funny how the absolute "bottom" in the manipulated PM's Smash Down occurred at the end of 2015
Did your "charts" and/0r GV Points indicate such?
Even more hilarious, is how certain "Precious Metals" have made astounding gains in Fiat (ie Counterfeited Currency) "Market" terms, such as Palladium & Rhodium (versus Gold or Silver) since that bottom.
(Hell, even lowly Copper has shown considerable gains)
Simply because those particular Metals are not considered as actual/ real MONEY! (thus any threat to the Banksters' & Govt's scam to defraud their Citizens)
Nevertheless however, those blessed with commonsense, knew how to take advantage of the situation and piled in, thus allowing the ability to swap those particular PMs into Real MONEY (ie Gold) this year @ a Cost Basis of merely 600 Clownbux per Ounce
Any chance that would qualify as a "Big Trade" ?
Yes Spartacus Rex and brokerk22 I share your pain and frustration! I think Argentus is also frustrated but he is not showing it.
The walking zombie just keeps on going and going ... crapCoin explodes to the upside and keeps on going. Hey even Gold have had a rise this year, but miners ... oh sweet lord Jesus Christ and his twelve friends ...
Ok, one of my favorite miners the MUXy, again how long is a Bull-Flag. If time and price is basically the same thing this must have been leveled out by now. Added an EW count, yes it looks complete:
what frustrates me the most (besides the fact that my hometown has turned into a globalist shithole) is that I suspect a great smack coming later this year. I need to get out before the smack and I do not want to do it here of obvious reasons, look at the chart again please. I hope we will close the gap before the smacky smack arrives.
Have a nice weekend!
I thought I was the smartest guy on the planet when I sold Novo at $2 and Garibaldi at 25c so yes that adds to the frustration right now. You can only laugh and walk forward, looking forward to a relaxing weekend with plenty of beer