Looking back two years the 8th of Februari has been an interesting date. I am working in a project called K2F08 and as you all know I've seen a boatload of 8's for 6months. My brother is born the 28th, my best friend 2nd of August 2/8 etc. and so forth ...
and by mistake I clicked this file showing my Gold fund from the last two years. Trend change at 8th of Februari, Februari is the second month K2 and is F08 the day? :
One fo my larger holdings Semafo will put out a report the 8th of Februari. The stock that means a signal or a flag bounced of Phi(16.2) before Christmas and gave a signal that the low is in.
The sentiment on the Swedish forum is pretty bad. I've tried to explain about the Law of Attraction that bad thoughts will escalate in a downward spiral if they think everything is shit. Guess what happened, the sentiment is even worse, no Sweden is also a piece of shit.
big sigh ...
I seek comfort in this beautiful picture. Dorothy is here and she is walking towards the light.
... and to be honest he can be persuasive.
Some time I'll talk about Scott Adams and his part, but today it's about a movie we should see, and show to our friends.
Next - market interpretation. Those charts posted above by regular contributors to Setup are top class and worth a repeated look, by the way.
As a contribution to the Setup cause, I will post this here, and everybody can sink their teeth into the matter. Being constructed using prop trading methodology I can't release an illustrative chart - but I can still give some pro bono analysis, so read on.
And feel free to use the info here to look deeply, dig out what else, what other confluences, and influences combine to bring about a significant decision of support or resistance for the long term.
This originates in Asian markets, (basis for this post is not the Nikkei), but I still have to figure out how far the wave extends from where I found it. Those price levels on the specific dates provided are now hugely important for Asian stocks possibly also global stocks.
Weekly scale to decadal scale inflection visible on eg quarterly charts (to give an idea of importance, not saying use those) located from middle December 2018 to middle of May 2019
December has already triggered and is operative.
The first week of Feb has triggered and is now operative as a second component of the inflection forming.
In my humble opinion India and surrounding zone has moved to the fore.
I don't see how I can not put stock trades on based on this, but there is a period of secondary signalling, confirmation, or even overcoming of the signals thus far present. Geopolitical actions will congregate in that region now.
Bullish above, bearish below these price-time support levels. Accuracy/error zone currently running about a week. Great care required now. Some of the inflection components are already on the charts.
This may be a good starting point.
Unusual post for the setup. Worked out sone smaller inflections points and sone bullish and bearish scenarios', not put on a chart yet. Looking at the consistent 4-6 day upward cycle, and sone other technical to work out.
Thanks for gift/opportunity, as I've been watching this market carefully. And it's the first time anything like this has showed up on Tfmetals. Attention captured. Cautionary advise duly noted.
Not something I regularly follow, but after hearing copper mentioned on a kitco.com metals video thought to take a look. Bullish copper.
It really helped to step back to the monthly to see the Babson structure. Even the weekly was a little confusing, but it charts beautifully once Y per the monthly is found. This suggests trade talks will succeed, per the video. Sounds reasonable.
Just attached the weekly copper, and the H9 contract (the lead contract in January). Very pretty for an A/R enthusiast. The H9 price action is so typical of a reversal after liquidation of weak longs--price to new contract lows. The next day, total reversal/short covering etc.
Combining the long term with the daily you have a powerful combination for a high-confidence trade.
This type of pattern shows up across many commodity markets.
Gold appears to be turning very near the latest daily ml (at value of prior top). The 60m shows very oversold with an alternate close trigger. Looking at delayed data at cmegroup, so maybe it's already triggered.
Price missed the lines by 1 and 2 ticks, and an hour early, but very oversold RSI (14) at 21.17. Lowest hourly close at 1.62% ExR of 3-4 wave on chart. Possible order is 1307.9 buy stop; if filled, sell 1306.3 stop (at least) for 1.70 risk. Note tiny RSI divergence at new low.
Interesting that the RBI cut its benchmark rate the same day AM posted this "In my humble opinion India and surrounding zone has moved to the fore."
NIFTY in a full bullish tone with support at 1098345. Rally up 7 daily sessions. Resistance at 1121358 and 1151651. resistance for today stands at 1119445. Exceeding this level could mean a runaway breakout to the upside. 3 waves up before pullback?
Correlation with S&P
On February 23, 1987, a supernova was detected in the Large Magellanic Cloud about 160,000 light years from Earth. The first supernova to be discovered that year, it was designated 1987A.
This is the exact year when I first met my buddy Lars at the university. This year it is 32y since that event. Lars is a Leo and I am a Virgo and we are both manifested in the Tarot card #8, scary stuff. The Leo is sulfur and Virgo is quicksilver.
160k (8+8) light years is Phi, and 32y is a double Phi or 8+8+8+8.
The most creepy thing is the supernova looks like an 8 with an eye in the middle. Is it a vesica piscis, the womb of the universe, the Christ consciousness.
I got a strong feeling that the almighty energy field of the universe is on to something. A paradigm shift on earth.
I woke up this morning at the witch hour 3:00, and caught this image:
Maybe the particles from the supernova is already here affecting us. A good setup for a golden trade of our souls I knew this day would be special ...
Tx to Bill Donahue
While AM and GL are better traders than I, I have to admit I'm still in the bear camp. (A man most trade on his own judgement doesn't he. :) )
Log chart looks like a rising wedge to me, both attempts to break the upper resistance have failed. Head and shoulders top is likely imho. Weekly candle has an ugly upper wick but hasn't decisively broken lower timeframe support.
Hi Silver Surfer,
Thanks for sharing that. I will work on some charts this weekend. Looking at past and future pivot points, there looks like a major change of direction on march 12th. And there are smaller pivots this month including a possible decline moving into Mon. 11th with the opposite trend after into Tue. 12th??If this decline extends beyond 3 sessions, then I'd worry about a correction phase.
For now, I'll just highlight 2 of Am's comments.
Geopolitical actions will congregate in that region now.
and secondary signalling, confirmation, or even overcoming of the signals thus far present.
Hmm... Other than or including pivot and reversal levels??
alot of exercises involved here...
Elections coming up in India and I see no two Indians can agree on what it means. Kind of like American politics.
(i have no idea why some of the words got bolded. No emphasis intended)
I am just guessing of course. The Swedish EW expert is short term bearish India, but a long term super bull ...
I am jealous that you see the Northern Lights so frequently. I live in Canada, but too far south and have only seen them twice :(
Also, a ghost pattern, the best to scare us away! Totally original. Thanks for sharing.
Silver66 posted about alot of people having sleep difficulties and not feeling right in the other forum. People might be feeling general "malaise" Irritable etc... Those lights have an electromagnetic effect on people( which comprise markets. ) my anecdotal survey, same as Silver66
Well, the reason I say that the market is in a bullish tone is because of these Gann Sections on a monthly . Instead of using Elliot Wave, which is inside the sections, to simplify, Gann describe the market movements in “sections” whereas Elliott referred to them as “waves” which included the movements that were made against the trend. I just block off 5 waves up, and 3 waves down. If I did it correctly, the last box would have to be significantly shorter in price and tine to indicate a change in trend. Not clear yet if that box is growing or we get three waves down but it's big enough already which implies upward momentum.
I started noting sone “biblical” cycles which are all over the place, and extended it out to the future, which looks like it got cut off.
here is the March 12th, change of direction (angle)/inflection. Obviously have to look at price factors.
There is another head in shoulders in there but, it’s inverse.
I an just trying to confirm the direction of the trend and right now until it breaches the daily, the market is bullish on daily, weekly and monthly.
I would give 3 non-technical reasons why I believe this market remains in a bullish tone although needing to watch for pull backs and violating resistance……
1)Given Festors post on the lowering of interest rates, the correlation of SPX (which everybody is yelling it’s fake) which implies CB’s have fun in India too????although not exactly sure what’s going on there and all the geopolitical implications. .
3.) When somebody has been posting in a forum (5 or 6 years? ) primary gold, with some coverage of other markets, and suddenly places a foreign trade riddle with supporting evidence of something big happening, your ears perk up because it’s out of the ordinary. And, there is always a rhyme to his reasoning.
I’ll watch what happens Monday. We’ll see if that fourth box is expanding, or we have three waves down before the next leg up. But if that box expands, we have something really serious going on in that market and it looks like possibly out to 2020/2021, possibly sone kind of unusual event that happened in the DOW in 1920’s. And maybe 4 or 5 tines since.
I think the answer to this riddle, lies in figuring out what’s happening in that red “tunnel” which I marked on Am’s chart. Looks pretty happy in that channel and not looking to crawl out below. But I have to figure what those to lines represent. Guesses for now.
"Controlling exactly what people think, and that's our job" Mika Brzezinski; morning Joe.
I'm glad they included this clip. I couldn't really believe it when I originally saw it, thank goodness for live TV. It's so flagrant, outrageous and so true.
An interesting find as I was researching long term cycles in the Nifty market. One to ponder..... Back in 2014, one Norman Greene put on the public record, that" Nifty could be one of the greatest trades of our lives" It came along with some references to invisible cycles operating in that market.
The natural question seems to me, did we all miss an opportunity whose time has come and gone? It has been an impressive run , OR did a black cat just enter the matrix
Has anybody ever heard of Constructive Interference when two waves come together, interfering constructively, and then continuing to travel as if they'd never encountered each other?
It happens in the case of Gigantic killer waves and even in markets.
The funny thing about tsunamis', even with the warning signs, most get caught off guard and never see it coming.
Is this how you envisioned gold being positioned for events in the pipeline?
Silver66 Rage against the dying of the light
The USD is looking much stronger now that some technical bearish patterns and possibilities have been negated by last week's trading. Meanwhile, gold trades narrowly, bouncing around in AR patterns per this hourly chart. Some daily lines are coming up from below and gold may get a stronger bid off of them.
Nothing has yet developed to put 1370.50 (the 2018 high) out of gold's reach.