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Charts from the Lunatic Fringe.

louky

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If it bounces here, top of the box 1296 (historical), then watch 1305 pivot after that for higher targets. 1359 bottom of the upper box after that.

Chart visual with a tail in previously posted D leg now

From bottom of the box,1269. Just memory, NCN

Straight to 1305 zone, scary pull back, "false breakout" was word on the street........now attempting 2nd target zone 1340's

1305 to 1359 no man's land tho, sharp
 

louky

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1305 pivot

Lower box
Top 1296
1287
1278
Bottom1269


look at green candles on futures and closes

1287 top of inner box....pop, big green candle
Screenshot_20190604-092054_Firefox.jpg



1305 pivot between boxes, pop, then big green candle

Screenshot_20190604-092103_Firefox.jpg


Posted for years, but must be all in my mind......9
 

Zed

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Gold 4H - Looks very much like a high-level consolidation @ the mo. It is a flag formation, break down to 'correct' and breakout projects ~1380. 1340 should give us at least pause but you can't bank on it.

AU-4H-20190605-1.png
 
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Zed

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1380 is between the 2014 and 2016 tops and not a likely resting point IMO. So I'd draw the target lines if we were to break upward here, @ 1370 and 1390. I guess it will bring the approach into 1400 into play which I think will hold once at the very least.

JMO.
 

Zed

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ASX goldies have a case of the nerves today. They are discounting a correction. Too far, too fast seems to be the feeling of the market. We will see what the close brings. Dum money opens, smart money closes.
 

Zed

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Monthly USDX v Gold. A decades worth.

Inversely correlated? Not so much. Really...

AU-DXY-M-20130506.png
 

Zed

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This time is different... but still not good.
 

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Zed

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Gold 4Hrly... The flag broke upward and we are headed into the first potential hazard on the way to a projected 1380 odd.

AU-4H-20190605-2.png
 

Zed

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This has been a bout of textbook TA price action, it is spooky and has me nervous.
 

louky

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Once this bottom finally gets carved out. Think it's going to be a big rally where people sell too early and it keeps going up generally into may or so maybe before the next crash into summer. Not saying there wont be pull backs of course.
So generally up until May "or so" it is, could be junish instead it appears, but should still be a nice summertime spanking coming to scare everyone i would think
 

louky

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Based off old long term work, yes i think it's possible. Showed major top may ish again. Based off box levels only, 1368 was the last top so 1377-86 may be in play this time around before a sizeable drop.
Bloggers and such are starting to target 1380 here now around may "or so" as expected was possible, so "may"be :p
 

Goldhedge

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This has been a bout of textbook TA price action, it is spooky and has me nervous.
So you're saying TA is actually working like it's supposed to??

Maybe the PTB are allowing it to blow off some steam to keep it from going KaPloooie! ??
 

Strawboss

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Gold is gonna need a breather sooner or later...

A nice weeklong sideways jaunt would be perfect....although a hit and run off of Louky's 1305 wouldnt be so bad either...
 

Zed

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So you're saying TA is actually working like it's supposed to??
Kinda acting more like the 'normal' instruments I chart... meh... conspiracy theory, me, never!

Gold Hourly...

We had a breakout, ran into resistance as expected and now we are testing the breakout level for support. All classically normal TA stuff. If we hold these levels the trend should resume. Now it is a matter of waiting out the clock, burning off the overbought condition and seeing how brave the short side is feeling.

AU-1H-20190606-1.png
 

Zed

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My ASX gold tribe are flat today, ever so slightly green. Suggestive of timid buying yet no real panic selling. A bit of gap covering has happened after the froth of the last few days... to be expected.
 

Zed

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This potential bust will destroy market faith for a long time to come. Boomers have no ability to recover and the millennials are broke and risk-averse. With luck it will be me and the pros left, the pros behave so much more rationally and more so if resources are limited! It should make my life easier...
 

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Zed

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My ASX gold tribe are flat today, ever so slightly green. Suggestive of timid buying yet no real panic selling. A bit of gap covering has happened after the froth of the last few days... to be expected.
Buying is ticking up... ~+1.3% now, 2 hours to trade.
 

Zed

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P&F... 1% Box, 3 Box Reversal, Weekly Data aka the long view. The important levels are quite apparent!

chart.png
 

Zed

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Buying is ticking up... ~+1.3% now, 2 hours to trade.
+1.8% EOD. A mildly positive outlook down here.
 

Zed

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Note the currently low enthusiasm levels around here... skepticism a hallmark of a genuine move higher. Wall of worry and all that.

Not saying it is the be all but it is a check on the pro side of the balance sheet.
 

louky

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Note the currently low enthusiasm levels around here... skepticism a hallmark of a genuine move higher. Wall of worry and all that.

Not saying it is the be all but it is a check on the pro side of the balance sheet.
1359 bottom of the box becomming support, all that matters for mars targets
 
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louky

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If it bounces here, gop of the box 1296 (historical), then watch 1305 pivot after that for higher targets. 1359 bottom of the upper box after that.

Chart visual with a tail in previously posted D leg now
1305, pivot to upper box. bottom of upper box 1359 is hardest of all to hold. once it's support, people's 1400 target becomes a possibility
1359, bottom of the box. Been saying it for years and just now happens to be the extension of this move that's surprising everyone, posted from 1269 bottom. Gotta love it, NCN
 

louky

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1359
1368
1377
1386
1395

Put it in the memory banks.

Already checked off tops at 1359 (two years) and 1368 most recently. Therefore, now current possible targets are between 1377-86. I noticed that's what started showing up on bloggers and chartist sites. NCN.
 

louky

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well don't forget he was calling for a massive break of 2016 highs in march and april, "this is the message the market is telling us". Clearly that was never going to happen as I told here time after time when 1359 failed to gain support. Easy call.

Quote from this guy in April 11th video, "this is a foregone conclusion, maket telling us 2016 highs are going t break". Haha, nope. In fact the market was telling us TWO years ago, it was going to fail to break 2016 highs in April 2018. See louky two year old musing, see GG charts. ;)







posted puking camel since Feb top, and had april noted as major top two years in advance




same day he made the video april 11, i had comment, which in the context was saying april would be spot for a top (not breakout)


I'm not knocking the guys analysis, it's very possible. My point is at a bottom (just like his failed breakout call), he's going to be a lagging indicator when it does turn/make a final bottom (just like he was in Dec 2015). ie, he won't get bullish again until it breaks many levels of resistance on the way up. Same as he failed to see the simple, straight forward call that's been posted here for years based off nothing but price action at a number, 1359, in April. Even though technically I called april 2018 top 2 years ago, posted in this thread live, so I guess it was based off more than just the magic number.

Haven't watched the guy's videos lately, but what did i say at exact july/august bottom? he was calling for massive breakdown and i said he won't get bullish until many levels broken onthe way up. "He'll be a lagging indicator". Now he's got big green arrows to 1500 or whatever. This after $200 move up that was expected since years ago into may 2019, all while he called for that massive bowl breakdown the whole time

Screenshot_20190606-072204_YouTube.jpg


As far as his bigger theory of breakout, then a massive dump. that's actually interesting to me because after august 2020ish, i had similar thoughts. Just always assumed it would be way up higher before then.
 
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louky

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So to recap the guys last year or so. He called for guaranteed, done deal breakout at april 2018 exact top, within days. Then warned about massive bowl breakdown for months from exact summer 2018 low. that's $200 both ways against you on a guarantee, done deal breakout call and a very, very, very strong, almost obsessive, warning with video after video, month after month about a massive bowl breakdown. At least he learned his lesson on the guarentees, it seems.
 
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