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  • #31,061
  • Apr 12, 2024 2:31pm Apr 12, 2024 2:31pm
For all of you people who are living in short timeframes(kidding), please take note of this giant daily candle. This is your threshold. So if the price goes to 2400 again, it is still within a bearish formation. It can go all the way up to 2431 as long as it doesn't close above that. It would still be considered within the parameters of the bearish formation. Only if the price closes above today's daily candle will we consider anything to the upside.
Attached Image (click to enlarge)
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TechKnow
  • #31,062
  • Apr 12, 2024 2:39pm Apr 12, 2024 2:39pm
Quoting Techknow
For all of you people who are living in short timeframes(kidding), please take note of this giant daily candle. This is your threshold. So if the price goes to 2400 again, it is still within a bearish formation. It can go all the way up to 2431 as long as it doesn't close above that. It would still be considered within the parameters of the bearish formation. Only if the price closes above today's daily candle will we consider anything to the upside. {image}
If you think this patttern on a friday after a all time high is realiable. Im surprised
  • #31,063
  • Apr 12, 2024 2:44pm Apr 12, 2024 2:44pm
It might go to the sell area in 2373-2370 and then go to 2320; if it breaks the sell area, it might go to 2440
  • #31,064
  • Apr 12, 2024 2:46pm Apr 12, 2024 2:46pm
Quoting Techknow
{quote} 1980 could be in the cards, but I will not know until the first part of the new wave structure is complete and I get the analysis done. I would expect a bounce from the 204x-ish area to fill the gap and bounce first, however. I will then look for another round of shorts to 1980. Once we hit that, we will have the pull of a very fine gap in the 1840 area. Earlier in my room, I told anyone to be careful of their gold shorts because the move was not trend changing. It was corrective. However, now we have seen what could be considered a trend-changing...
yes 1840 opening is there, but again price won’t fall in a line, may be price move in a channel but firstly 2080 will be a great support on the weekly basis. It will take months to reach that point. But can be reached nothing odd in that.
  • #31,065
  • Apr 12, 2024 2:48pm Apr 12, 2024 2:48pm
Quoting hanzohas
{quote} I think the opposite. The more price goes down the less people will become bearish. The less they become bearish, the more price will go down. I have been chasing this stinking scenario for four weeks now
that’s how it suppose to, but when price was at 1800 people were like we won’t see 2000 again, Now when price was at 2400, people were like we’re going to 3000, most of them are not able to put it together.
  • #31,066
  • Apr 12, 2024 3:00pm Apr 12, 2024 3:00pm
Quoting DatRikFX
{quote} If you think this patttern on a friday after a all time high is realiable. Im surprised
Lol. Okay.
TechKnow
  • #31,067
  • Apr 12, 2024 3:02pm Apr 12, 2024 3:02pm
Quoting GK12
{quote} yes 1840 opening is there, but again price won’t fall in a line, may be price move in a channel but firstly 2080 will be a great support on the weekly basis. It will take months to reach that point. But can be reached nothing odd in that.
I'm looking on the daily. I don't trade these baby timeframes. Months is fine, preferably starting to sell from here to May. I plan on a big bounce after the first gap fills anyway. This is pretty common behavior. Ill take that chance to reload.
TechKnow
  • #31,068
  • Apr 12, 2024 3:19pm Apr 12, 2024 3:19pm
Quoting Jonas4
A correction with CPI will make sense just to reset RSI. Dow and S&P are also overbought on weekly. If there's a moment to correct the indicators, it might be tomorrow.
It was telegraphed that a correction would happen. Dow -1.2%, S&P -1.5%, Bitcoin -7% Gold -1.2%.

The RSI indicator doesn't stay overbought all the time, it eventually falls. And Gold is still way too overbought above 70 on the Daily, Weekly and Monthly.

I don't want to imagine what would happen if it actually gets to oversold below 30. If a crash like this happens and only moves Daily from 75 to 72.
  • #31,069
  • Apr 12, 2024 3:20pm Apr 12, 2024 3:20pm
Quoting Techknow
{quote} Lol. Okay.
Bar hasnt even finished printing. 1 week bar doesnt look bearish at all.

But lol okay
  • #31,070
  • Apr 12, 2024 3:21pm Apr 12, 2024 3:21pm
Quoting Techknow
{quote} I'm looking on the daily. I don't trade these baby timeframes. Months is fine, preferably starting to sell from here to May. I plan on a big bounce after the first gap fills anyway. This is pretty common behavior. Ill take that chance to reload.
Yes after May- Gold is usually bearish till September, Move can be slow or fast, depends, a ceasefire news may trigger another sell like we had today, and then Hawkish Fed can also push the gold lower, anyway it is just starting, will see the next week closing to be sure.
  • #31,071
  • Apr 12, 2024 3:21pm Apr 12, 2024 3:21pm
Quoting Techknow
{quote} I'm looking on the daily. I don't trade these baby timeframes. Months is fine, preferably starting to sell from here to May. I plan on a big bounce after the first gap fills anyway. This is pretty common behavior. Ill take that chance to reload.
daily chart is time to sellll
  • #31,072
  • Apr 12, 2024 3:35pm Apr 12, 2024 3:35pm
Quoting GK12
{quote} agree, and that’s where it will be appropriate to buy, when every one will be bearish by then
that is the game
we live, learn and earn for tomorrow
  • #31,073
  • Apr 12, 2024 3:46pm Apr 12, 2024 3:46pm
Key levels keep touching as marked, so far its on point that price now have direction to last key point marked on screenshot. But it still needs time to hit, for last keylevel it needed week to hit, so its best to long at 2277.
Attached Image (click to enlarge)
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  • #31,074
  • Apr 12, 2024 4:04pm Apr 12, 2024 4:04pm
Resistance because of the silver.
It hits a biggest resistancen level on daily....!!!!
  • #31,075
  • Apr 12, 2024 4:22pm Apr 12, 2024 4:22pm
both silver and gold bottom on the weekly POC. open go either way.

good weekend.
In tea leaves we trust!
  • #31,076
  • Apr 12, 2024 6:41pm Apr 12, 2024 6:41pm
What a US session; anyone get a piece of that?

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It takes a lot for me to IGNORE you, but you can try.
  • #31,077
  • Apr 12, 2024 10:55pm Apr 12, 2024 10:55pm
Quoting Erebus
What a US session; anyone get a piece of that? {image}
not a piece as you think. Let's take everything..
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SURFER
  • #31,078
  • Apr 12, 2024 11:47pm Apr 12, 2024 11:47pm
Quoting DatRikFX
{quote} Bar hasnt even finished printing. 1 week bar doesnt look bearish at all. But lol okay
If this doesn't look bearish to you, quit trading forever. I mean, literally, right now, shut your computer. Throw it out the window.
Attached Image (click to enlarge)
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TechKnow
  • #31,079
  • Apr 13, 2024 12:46am Apr 13, 2024 12:46am
gold reach new high this week and now I am targeting 2006 area for retracement. What about you guys? Any opinion on gold? And what about rate cut?
  • #31,080
  • Edited 2:34am Apr 13, 2024 1:47am | Edited 2:34am
Quoting Erebus
What a US session; anyone get a piece of that? {image}
#31001 and subsequent ones

I'm taking a break from posting, not from trading until September
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