AXSTONE'S FINAL WAVE (5)

[d-lod]

I dont consider myself a TA, do you consider me to be a TA ? I look at charts, I draw on charts, I comment on charts

That's great art and called TA, as long as you don't create one................

 

[MAGNUM P.M.'s twin bro]

Well you KNOW a new bull as started when the techies start giving ole Ax a hard time. All that adrenaline and anxiety has to be projected somewhere. I will comment on the charts thusly, informed by macro, fiscal and monetary woo woo:

I think 1200usd is the new Brown's Bottom.

 

[Zed]

Well you KNOW a new bull as started when the techies start giving ole Ax a hard time. All that adrenaline and anxiety has to be projected somewhere. I will comment on the charts thusly, informed by macro, fiscal and monetary woo woo:

I think 1200usd is the new Brown's Bottom.

As always any critical analysis of what is said or attempt at discussion is considered "a hard time".

I'm not the one operating in an emotional space, I'm going on a 25 year trading veteran here. I've not pulled a wage in that time... 2c FWIW... be objective, we KNOW nothing, we must question EVERYTHING. Questioning/testing/reasoning isn't "giving a hard time" and it is necessary for survival.

Come out onto "the fringe" where we question our sanity daily!

Chow dudes!

 

[Strawboss]

Truth is...none of us knows for sure whats gonna happen next. We are all trying our collective best to navigate these treacherous waters...we need each other - to remind us of what we have forgotten...or not considered...so each of us is better informed.

 

[Zed]

Truth is...none of us knows for sure whats gonna happen next. We are all trying our collective best to navigate these treacherous waters...we need each other - to remind us of what we have forgotten...or not considered...so each of us is better informed.

Debate/discussion/argument is always productive if you engage fully. Forcing yourself to fully support your position is never a bad thing, in the process you learn why you might be wrong or even new reasons why you may be right. If you find yourself playing the player then you lose, but otherwise the exercise will only make you fitter.

JMO... etc.

 

[axstone]

Every rally during the sideways trend has retraced back below the 61.8 Fib level
I expect the 61.8 fib level to hold the next reaction, whatever level it starts from

 

[axstone]

I am thinking there is a 75 % chance gold is dead money until October

 

[axstone]

Most retracements coming out of the consolidatin phase, retraced 50 % to 61.8
except for once in the extreme spike to 1,000 it retraced almost 95 %. ( the lehmans event.)

 

[axstone]

adjustment

 

[axstone]

BUMP

 

[axstone]

Techncially we had a trend change today

 

[Strawboss]

That chart looks pretty mild compared to whats gonna happen at 2:01pm on Wednesday...

 

[axstone]

interesting if this holds tomorrow, see how many strong hands and deep pockets

looks like a nice hammer reversal pattern on the 4 hour chart

 

[axstone]

Hammer

 

[axstone]

 

[axstone]

today down trend break at 1209

\

 

[axstone]

2

 

[Zed]

Hammer
View attachment 137650

Yes... but the bar was incomplete @ the time of posting. Regardless it is looking short term oversold and due for some relief. The last time we looked like this it was sideways for a while before another short leg down (19 Jul -->). How well we get up off the canvas here will be worth noting now that the Fed's bias has been confirmed.

 

[Zed]

Gold 30 min --> Notice the divergence that occurs sometimes when we get a bit of a monkey hammering in gold. There seems to have been high selling pressure prior to the break proper then quite a few long lower tails as people have been buying into the selling. Most of the big red bars have closed quite a way off their lows indicating that this wasn't a walk in the park for the short sellers.

 

[axstone]

FED rhymes with ZED .. hmmm

 

[Zed]

FED rhymes with ZED .. hmmm

Gawd you can be a bit of a dick Ax...

Bygones pal, get over it and come join in the fun on the Fringe... we all wanna do well out of this, how about you?

 

[stonedywankanobe]

Too funny. Starting to remind me of the everything that glitters rag from antiquity.

Zed are you even a club member for fucks sake?

 

[Zed]

Zed are you even a club member for fucks sake?

Sadly I never made the cut!


Life is hard being a secret Fed double agent!

 

[Zed]

 

[axstone]

IN MORE WAYS THAN ONE >>>

 

[Goldhedge]

FED rhymes with ZED .. hmmm

Let's keep it on the 'gentlemanly' side folks...

Gawd you can be a bit of a dick Ax...

Bygones pal, get over it and come join in the fun on the Fringe... we all wanna do well out of this, how about you?

a case of the 'zackleys', as in Exactly that...

 

[axstone]

Thats not a candlestick...
THATS A CANDLESTICK

 

[MAGNUM P.M.'s twin bro]

Gold is speaking today. The Fed is in real trouble

 

[axstone]

Gold is speaking today. The Fed is in real trouble

See Powells body language, man did he look uncomfortable. terrible body language

 

[Goldhedge]

^^ Link?

 

[MAGNUM P.M.'s twin bro]

yes, Powell was in middle of the Venn diagram of Biden. Williamson and Harris

 

[axstone]

^^ Link?

 

[Goldhedge]

He seems to be apologetic... unlike Greenspan who exuded an air of erudite commentary all the while disseminating a complete line of skookum that pundits endlessly fawned over and rarely questioned...

 

[Zed]

Its a liquidity issue not a issue of bad economic numbers in the here and now! This is the distilled wisdom of the people I have been listening too...

?!

Insurance Cut is the best moniker IMO, which is why it sends a negative signal to the market. The market really needs to get a very clear idea of what is worrying them lest they just back off out of caution. I dunno...

 

[Zed]

He seems to be apologetic... unlike Greenspan who exuded an air of erudite commentary all the while disseminating a complete line of skookum that pundits endlessly fawned over and rarely questioned...

Greenspan was the consummate purveyor of baffling bullshit. No one dare challenge the master sculptor of bovine waste material!

 

[bemac]

Greenspan was the consummate purveyor of baffling bullshit. No one dare challenge the master sculptor of bovine waste material!

Except that one guy outta Texas.

 

[axstone]

I somehow can listen to Greenspan for hours though. Even if he did bad things as a Fed official.

 

[axstone]

 

[MAGNUM P.M.'s twin bro]

View attachment 137817

Did I mention how much I liked this chart? Of course, in my mind's eye I am doing a bit of cut and pasting, logarithmically inflating, and sliding things over a ways....

 

[MAGNUM P.M.'s twin bro]

At some point we may have to price in the risk of US civil war or at the very least substantial political violence. The rhetoric is way over the top and I very much doubt the 2020 RNConvention will be peaceful.