The setup for the big trade

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Wed, Oct 28, 2020 - 1:43pm
Pete
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Anybody else noticed what just happened?

Right before 10:30AM ET--the settlement time on Comex--there was a surge of buying sufficient to close the half hour at 1879.80--above the R1 value of 1879.40 for the day. This is a bullish signal. You can see the volume pickup for this to happen on the 5m chart. In London and Zurich the offered prices--which are spot prices-- moved $1-2 above the Dec Comex price.
Wed, Oct 28, 2020 - 5:20pm
Pete
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Just exited

Didn't like the session close relative to daily R1--sold what i bought this am for a small loss.

Wed, Oct 28, 2020 - 8:26pm Pete
Alembic
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Gold

Pete,

Is the monthly pivot at approximately 1902 and S1 around 1871? If so, how does that relate to your current perspective on gold?

Fri, Oct 30, 2020 - 7:21pm
silver66
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for those who want to know simple

Neil Turok Public Lecture: The Astonishing Simplicity of Everything

enjoy

Silver66, It's not what I thought was was right that turned out to be wrong that got me. It's what I thought was wrong that was right that got me ;-)

Fri, Oct 30, 2020 - 8:20pm
silver66
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follow the son/sun

He may give guidance on life ?

466 Jesus The Sun God. Too Many wearing Sun Screen

enjoy

Silver66, It's not what I thought was was right that turned out to be wrong that got me. It's what I thought was wrong that was right that got me ;-)

Sat, Oct 31, 2020 - 1:23pm
Pete
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Dec silver

Silver looks better. Added to silver stack (pslv) on Thursday. While uncertain technically, PMs must be a lock for higher prices down the road. Stock weakness adds to downside pressure for now. The Fed will have to continue to debase the currency, regardless of the election outcome. Click on chart to expand.

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Sat, Oct 31, 2020 - 1:37pm
Pete
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@alembic

sorry, i don't understand your question. better if you attach a chart with some notation. it's easy to do from cmegroup.com. tradingview has great software.

generally, the monthly contracts of Dec and June are the key ones for gold because of their open interest and historical importance for the gold market. sometimes the continuation chart is helpful, but only for a much larger time frame analysis. please also indicate which of these you are looking at. for the action/reaction approach i'm attempting to use, the dec charts for both gold and silver are the important ones at present.

Tue, Nov 3, 2020 - 11:54am silver66
Solsson
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silver66 wrote:

silver66 wrote:

He may give guidance on life ?

Tx Silver66, light vs darkness.

The crown virus can be cured with D-vitamins. When does our body produce vitamin-d? After our body has been exposed to the sun. The esoteric meaning of the bright sun is truth. So the crown virus is a symbol of the disease of darkness or the disease of lies and d-vitamins are solar pills, pills of light or pills of truth, interesting thought.

Oh and D is the fourth letter and the word fourth occur 888 times in the bible.

Fri, Nov 6, 2020 - 12:28am
Pete
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uh-oh

Strong rally today stopped at the r1 line of the correction. The 0-y center line is very strong, so theoretically that r1 line should be strong enough to create a pivot (at least). At first blush it looks like we are in a third wave up from the September low--and why would a third wave stop here? Yet, could we be seeing a B-wave top in the making?--or is there too little time elapsed (just 5 days) for a possible c wave end to a larger B-wave?

My guess is we are in a third wave (not a B wave end) that's going higher after a possible small pullback. Given the elapsed time of the rally and pullback since the September low, it's doubtful this rally wave is over. Volatility may rule the day and give us a pivot. IDK. I'm hoping for a Friday close above the line...or by the middle of next week. We shall see.

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Mon, Nov 9, 2020 - 11:17pm
betweenus
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Who thinks up these things?

Kitco informs us today that gold was down $100 because Pfizer announced a COVID vaccine. I was sure it was because the Saints had beaten Tom Brady and Tampa Bay so badly in the football game last night. Anyway, I don't know much about this, but it's always interesting to me the reasons that are given for PM moves. Someone obviously has the authority to think up something like this and tell everyone why it happened. Not an important post -- just curious how this happens if anyone knows.

Mon, Nov 9, 2020 - 11:24pm
Pete
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Comex Gold

Over the years, my research has pretty consistently pointed to using the Dec and June expirations as the primary charts for determining the trend of Comex Gold with the Babson-type analysis. Could it be that the daily continuation chart in this instance is pointing to a bottom? Sometimes it does. See the link below.

Now we would have a longer-duration correction on the monthly chart, which looks better on the monthly for a significant low. Certainly today was a very emotion-laden day, and probably a lot of weak longs closed their positions. We shall see.

We had today a lower low but no lower close, which was discussed some posts back as a confirmation of the turn at the possible r1 line (derived from the min-3 y pivot before the top)--at the Sep 24-28 low.

https://i.imgur.com/pFx02nI.png

Wed, Nov 11, 2020 - 10:59am
Pete
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setup for a big trade in gold?

This morning, Dec gold returns to the possible MLH and puts in a volume reversal on the hourly chart (higher hourly close), with Fibonacci external retracement to boost the likelihood of a turn here. It was a good place to add physical to a long position. (Personally I'm doing nothing levered in such a crazy time.)

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Wed, Nov 11, 2020 - 11:37pm
Pete
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Hmmm...!

I think I discovered a (the?) key support line in daily continuation gold. Notice that its foundation is the Andrews fork on the left, created off the low at the Babson R1 line on March 16, 2020 (the y pivot on the red ML is the clue). I believe gold may have found a bottom on Monday at the extension of this ML (a phenomenon Andrews wrote about), just as it was support for the low of June 5 (at the first green arrow). Other ways of looking at this complex market structure (previously posted) point to the same result.

The ep (expanded pivot formation) before the low is a further indicator of a good move coming to the upside.

Thu, Nov 12, 2020 - 12:37pm
SteveW
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888

Let's leave the Zeitgeist at 888 posts for a while. I think it's a good number.

“Don't walk behind me; I may not lead. Don't walk in front of me; I may not follow. Just walk beside me and be my friend.” ― Albert Camus
Fri, Nov 13, 2020 - 11:30am SteveW
Solsson
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SteveW wrote:

SteveW wrote:

Let's leave the Zeitgeist at 888 posts for a while. I think it's a good number.

Oh 888 was the whole purpose of my posts with the lady wearing a blue mask. Sorry I have to break 888. What if you add all books of the bible to 888 or all the chapters in Isaiah? How about Isaiah 53, what does it mean? Isaiah without vowels is 66 in 7-cipher. Look at the lady's mask is there a number present, maybe several numbers of the same kind.

888+66=954

to be continued...

Jesaja an Israeli prophet:

Isaiah was the 8th-century BC Israelite prophet after whom the Book of Isaiah is named.

Within the text of the Book of Isaiah, Isaiah himself is referred to as "the prophet", but the exact relationship between the Book of Isaiah and any such historical Isaiah is complicated. The traditional view is that all 66 chapters of the book of Isaiah were written by one man, Isaiah, possibly in two periods between 740 BC and c. 686 BC, separated by approximately 15 years, and that the book includes dramatic prophetic declarations of Cyrus the Great in the Bible, acting to restore the nation of Israel from Babylonian captivity. Another widely held view is that parts of the first half of the book (chapters 1–39) originated with the historical prophet, interspersed with prose commentaries written in the time of King Josiah a hundred years later, and that the remainder of the book dates from immediately before and immediately after the end of the exile in Babylon, almost two centuries after the time of the historical prophet.

Fri, Nov 13, 2020 - 11:49am
Solsson
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Friday the 13th a lucky day ...

Ok the previous post came straight out of the blue. This is what I was supposed to post. I got a message this morning.

A great Silver treassure discovered in Gotland a big island in the Baltic sea. More than 160 Arabian Silvercoins were found.

When I logged in this evening, a major silvery phallus showed up, easy to interpret isn't it?

Mon, Nov 16, 2020 - 10:47am
Pete
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2nd H bounce in gold

Gold returned to the daily Andrews MLH, drawn from the March 16 low, and reversed for the second time. Potential is for the ML from the March low--i.e. much higher prices in due course. The downside risk for this pattern would be an intraday stop under the first H bounce low, or an hourly close under the second.

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Mon, Nov 16, 2020 - 6:35pm
11IMIX
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Forward

Berkshire dumping banks ( new digital reset system) Buying big pharma ( mandatory vax for your sheep ass). The beat goes on.

I miss my old dog.

Mon, Nov 16, 2020 - 6:38pm
11IMIX
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Isiah pic

Blue (masculine) Red (feminine) clothing represent the union of the divine creating the child in the pic. Boo !

I miss my old dog.

Wed, Nov 18, 2020 - 7:11am
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I have had my attention diverted recently

... but I was still working on markets continuously producing 100+ hours of video analysis materials outside of TFMR site.

My time requirements are shifting again now, and I will have more time for Setup again going forwards.

So here is some pro bono work for long standing readers of Setup For the Big Trade.

Looking away from the precious metals for a moment.

This is ISEQ Irish Stock Exchange Index. A Euro denominated EU proto globalist controlled economy currently under mandated lockdown by popular acceptance of Government diktat. The popular acceptance part is because the normie population have not as of yet (incredibly) experienced enough anguish to make distrust of government a necessary mindset change. So it is. More mass suffering will probably follow, periodically, until the necessary lessons are learned to move to new values.

Pay attention. Everything that matters is summed up here.

Note: the moving averages are in error, disregard. The projected price will not (probably) work out, disregard.

Eliminate those. Look at what remains.

Ireland, from Wall St's perspective is "in the east".

So this is a looking east towards heavily indebted developed nations exercise. It is not limited to Ireland, so expand your horizons across the globe for the biggest trades in this, in the East.

Hopefully you can get something beneficial from this post.

All previous disclaimers are renewed, go back and read them. This is not financial advice. Get professional advisors if you need them because regulation agencies say this is good to do.

But there is much to discuss here.

argentus maximus

Rhythm and Price http://www.greenhobbymodel.com/rhythmnprice.html

This analyst - global markets

randomness