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  • #39,281
  • Aug 21, 2024 3:26am Aug 21, 2024 3:26am
How I love waking up to this news time sit back waiting for TP to be
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average dude treading water
  • #39,282
  • Aug 21, 2024 3:28am Aug 21, 2024 3:28am
Quoting HalikiqeoVN
{quote} I think gold needs to go to 2470-2480 to be able to make a new high this week. A sharp decline from real gold is really too difficult. From my ichimoku, the daily frame shows that gold has very strong support, almost unable to break through 2386-2400. Maybe it needs more time if gold wants to correct more strongly below 2400 to be able to go far in the long term.
Could be. If 2470 is met first, i buy or sell if 2537 unfolds. . Because currently i dont have any high probability setup in my favour. I can only wait, before triggering orders.
Buying now is risky, as previous swing high already broken.
Swing favours short side, but both internal and external structure still intact. I want a sweet spot for entry, which is not yet available.
More time in the market, does not mean you trade better!
  • #39,283
  • Aug 21, 2024 3:34am Aug 21, 2024 3:34am
Quoting Techknow
The US Dollar will never be done for. The idea that any significant currency is going anywhere anytime soon is just comical. Anyone who says this clearly does not understand. In 20 years, someone will be in this forum having this exact conversation. Please look at the dollar chart. Monthly, Weekly, zoom out. Does that look like a dying currency? What do you think the catalyst for the dollar dying will be? Nuclear war? Currencies wont matter than, only beef jerky and bullets. "Even the FED knows it." Are you telling me that even the Fed knows the...
Totally agree

I think part of the hype came from Bob Pretcher of EWI and his book "Conquer the crash" his recommendation was that the only currency was physical gold If and its a massive IF, everything goes bang and we end up in a lawless society - the book is good, from a generalisation outlook perspective - ignore the Elliott Wave counts, he's been calling the mother of all mother wave 5 of 5 of 5 since 1986 and its never going to happen

The only way I can think of regarding the US$ going is if China and Russia collude to some almighty repositioning of a new world reserve currency, until that happens the US$ should continue - I can see at some point too, the FED bringing out their own digi US$ backed currency, to kill off all these digi currencies, but you never know

anyway, it don't stop us trading
  • #39,284
  • Aug 21, 2024 3:39am Aug 21, 2024 3:39am
Good morning folks,

NY couldn't gave us BOS yesterday, so the Asian took slowly with the trend.
London known as a market that can't produce nothing special so the expectations are low, But they put a good foundation and we have a BOS in the internal structure.
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  • #39,285
  • Aug 21, 2024 3:41am Aug 21, 2024 3:41am
Just small talk for know..anyone remember the last Gap up gold had 2023 and never closed I think it was 1866
average dude treading water
  • #39,286
  • Aug 21, 2024 3:43am Aug 21, 2024 3:43am
My Daily Pivots and Range (Pre- FOMC minutes)
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  • #39,287
  • Aug 21, 2024 3:43am Aug 21, 2024 3:43am
Quoting MIKKI
Just small talk for know..anyone remember the last Gap up gold had 2023 and never closed I think it was 1866
October 9
  • #39,288
  • Aug 21, 2024 3:47am Aug 21, 2024 3:47am
Quoting Whale
{quote} October 9
That's it and Gold never closed that gap and I remember someone saying it can take years to close is that correct does a gap need to close.
average dude treading water
  • #39,289
  • Aug 21, 2024 3:48am Aug 21, 2024 3:48am
Quoting Thtpro
{quote} Totally agree I think part of the hype came from Bob Pretcher of EWI and his book "Conquer the crash" his recommendation was that the only currency was physical gold If and its a massive IF, everything goes bang and we end up in a lawless society - the book is good, from a generalisation outlook perspective - ignore the Elliott Wave counts, he's been calling the mother of all mother wave 5 of 5 of 5 since 1986 and its never going to happen The only way I can think of regarding the US$ going is if China and Russia collude to some almighty...
Legacy EW is a very basic and simple theory. Dudes like Pretcher have runied it and added enormous amount of BS to it just to fill pages, to make more money, and make it appear more scientific.

Back in the time, even R.N. Elliott was forced to tie the theory to something "scientific" by the publishers. That was why Fibonacci was added to the theory. Just to make it appear more scientific.
ma ma make me happy
  • #39,290
  • Aug 21, 2024 3:52am Aug 21, 2024 3:52am
H1 showing possibility of MTR:
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  • #39,291
  • Aug 21, 2024 3:54am Aug 21, 2024 3:54am
Quoting MIKKI
{quote} That's it and Gold never closed that gap and I remember someone saying it can take years to close is that correct does a gap need to close.
Yep, this was pre-war scenario.

All gaps eventually need to close, when is the real question there are some imbalances down at 1500-1600 too lol, eventually I guess they will all close.
Fate goes ever, as fate must.
  • #39,292
  • Aug 21, 2024 3:55am Aug 21, 2024 3:55am
Quoting MIKKI
{quote} That's it and Gold never closed that gap and I remember someone saying it can take years to close is that correct does a gap need to close.
Gap doesn't have to close, it's a myth
  • #39,293
  • Aug 21, 2024 4:02am Aug 21, 2024 4:02am
Quoting eyefeelsix
{quote} ... and yeah GAP filled {image} It's vacation time for me, Catch you later!

nothing changes, in my counting I'm still in impulse 3rd wave on the larger degree

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https://breakpullback.com
  • #39,294
  • Aug 21, 2024 4:10am Aug 21, 2024 4:10am
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I think if we close back inside the rising wedge, we're going out the other side and down. To me it felt like money managers chased this market up the final leg and folk were finally too scared to short up here. Fundamentally this makes sense if we've deleveraging and shifting to a lower rate environment but the geopolitical risk built into the price is still the wild card for me. I was thinking $3000 was a sure thing but they're really pushing the narrative for gold now.
  • #39,295
  • Aug 21, 2024 4:17am Aug 21, 2024 4:17am
Quoting eyefeelsix
{quote} nothing changes, in my counting I'm still in impulse 3rd wave on the larger degree {image}
looks like lots of us have the same target.

2470’s
Que Sera
  • #39,296
  • Aug 21, 2024 4:17am Aug 21, 2024 4:17am
Quoting determinato
{quote} Yep, this was pre-war scenario. All gaps eventually need to close, when is the real question there are some imbalances down at 1500-1600 too lol, eventually I guess they will all close.
Know that's a long long way down......but I guess remember when guru crashed from 130 down to 1.04.....just went straight through everything....
average dude treading water
  • #39,297
  • Aug 21, 2024 4:43am Aug 21, 2024 4:43am
Quoting hanzohas
{quote} Legacy EW is a very basic and simple theory. Dudes like Pretcher have runied it and added enormous amount of BS to it just to fill pages, to make more money, and make it appear more scientific. Back in the time, even R.N. Elliott was forced to tie the theory to something "scientific" by the publishers. That was why Fibonacci was added to the theory. Just to make it appear more scientific.
I have to say that I've understood the markets from a scientific perspective rather than the theories out there - It all depends on you as a person, some things will make sense others won't
  • #39,298
  • Aug 21, 2024 5:41am Aug 21, 2024 5:41am
Quoting JRA
{image} I think if we close back inside the rising wedge, we're going out the other side and down. To me it felt like money managers chased this market up the final leg and folk were finally too scared to short up here. Fundamentally this makes sense if we've deleveraging and shifting to a lower rate environment but the geopolitical risk built into the price is still the wild card for me. I was thinking $3000 was a sure thing but they're really pushing the narrative for gold now.
looks really conclusive. Got the same opinion. It has to go down to fuel for further numbers.
  • #39,299
  • Aug 21, 2024 5:45am Aug 21, 2024 5:45am
Quoting Thtpro
{quote} I have to say that I've understood the markets from a scientific perspective rather than the theories out there - It all depends on you as a person, some things will make sense others won't
Science also covers theories like big bang, evolution, and quantum physics. Trading is more like a sport, you need to be in form and involved. No scientific method will make you a successful trader. You should also just read trading books to learn what not to do, rather than what to do.
ma ma make me happy
  • #39,300
  • Aug 21, 2024 5:58am Aug 21, 2024 5:58am
Quoting Catempire
{quote} looks like lots of us have the same target. 2470’s
hope everyone here makes mon$y
https://breakpullback.com
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