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Charts from the Lunatic Fringe.

Goldhedge

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^^ good video

How does one view a futures chart like he does? Is there a free charting site?
 

dpong

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In case you missed it. Nah, you didn't miss it.

sc-10.png
 

Varmint Hunter

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^^ good video

How does one view a futures chart like he does? Is there a free charting site?
I thought it was a good explanation of the beat down in Au today.
As to your question...I wish I knew the answer. Hopefully one of our experienced traders on this site can help.
 

Goldhedge

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So is this green line now 'support'?? 200 DMA?
Screen Shot 2019-04-16 at 6.01.34 PM.png
 

dpong

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@Goldhedge I think we closed the day right at one horizontal support area. (Draw a horizontal line from today's low back to earlier support in late January), but it doesn't look like strong support to me. I think the line you drew is indeed the most obvious support area, without resorting to fibonacci. JMHO.
 

Goldhedge

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louky

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Gary's video says the banks are dumping illegal limit contracts now....who knew?

Regarding cot data . They were progressively building shorts. Total reversal of trend and positioning with gold ~40 higher? I doubt it, but no one knows with hidden data.
CoT data up to dec 31st released now. Continues to suggest 1278-69 with 1251 pivot still on the table.
 
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louky

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Last CoT was dec 18th and funds were going crazy adding longs, commercials and especially banks getting short. It's reasonable to assume this has continued with goldies $40 higher.

Techs and pattern are very bearish, imo

Hence, I would have to think the next significant short term move is down, with 1330 or so still on the table, but 1296 top of the box.


That said, my orginal thesis was summer july low (came two weeks late august) with april/may 19 being the next significant top before the next big sell off. So it could take a while to play out. Hence why i was still debating.
Got to 1340's instead of 30's before the spanking began

I'm thinking around aprilish is going to be a slaughter on the miners
 

Goldhedge

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So you're saying 1251 looks like critical decision point?
That's what the line is showing... if they keep buying to cover their shorts....


What's your view?
 

louky

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That's what the line is showing... if they keep buying to cover their shorts....


What's your view?
My view is to never look at a gold chart in this range. Because it will always end up with an imaginary line at the numbers posted for years.

1251 is pivot between upper and lower box, always and forever

1251 = key to the box



Bottom of the box 1269


69-[78-87]-96
Lower box top is 1197, with small pivot at 1215
 

louky

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Goldhedge

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Over time it could inch up to 1260-65 thereabouts....

You have way better charting knowledge... I’m just a line scribbler....
 
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Louky what do you think of the breakout in pplt/plat? I'm holding but not seeing much volume, I see an upwards channel forming but that's it.
 

engineear

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Who saw the drop this time? If the system is rigged, how can you trust charts and graphs? Like I've said before.."franks and beans, franks and beans"..Something about Mary.
 

louky

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Who saw the drop this time?
Anyone that read this thread, of course


I'm thinking around aprilish is going to be a slaughter on the miners
Last CoT was dec 18th and funds were going crazy adding longs, commercials and especially banks getting short. It's reasonable to assume this has continued with goldies $40 higher.

Techs and pattern are very bearish, imo

Hence, I would have to think the next significant short term move is down, with 1330 or so still on the table


my orginal thesis was summer july 18 low (came two weeks late august) with april/may 19 being the next significant top before the next big sell off. So it could take a while to play out.
 

Goldhedge

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Who saw the drop this time? If the system is rigged, how can you trust charts and graphs? Like I've said before.."franks and beans, franks and beans"..Something about Mary.
... always in the back of my head I'm thinking 'rigged' so why even trust charting.... entertainment value?

Louky is the best I've ever seen for 'prediction' and he reposts his comments from years before to back him up.

You never see that from loudmouth Cramer and the other TV experts...
 

Goldhedge

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pplt chat
 

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Goldhedge

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dpong

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Goldhedge

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dpong

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I posted that for @engineear to see whether anyone anticipated what happened. Or maybe I was lucky, but not *only* lucky.
When people say how can you use charts in a rigged market, I always think that you probably need them more in a rigged market than in a non-rigged market (even if one existed). In fact, charts of a rigged market show how a rigged market works. And these rigged markets have always been rigged. A chart charts that. How would one approach a rigged market without charts to see how it works? Anyway, that is my thinking on the matter.
 

Strawboss

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A retest of the 200dma makes sense. That is a common thing to occur before a move upwards...

What I am looking to see is if we get a divergence between the miners and gold - where gold continues to decline but the miners begin moving upwards. I think that will be the "tell"...if it occurs.