Youll probably want to keep a close eye on that $ chart as well
05 September 2016
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I don't know if you visit the lunatic thread often so here's my take on symmetry. Your time frame: Couple of weeks left painting up until FOMC, then rate hike (or announcement) leading to the next low.
and now....the rest of the story....
The symmetry is painted by the algos. Everything on the gold chart matches key dates. It's all a plan they've set up months or years in advance. Below, you see the time frames from the downtrend in black, (ie 8 days drop, 14 days rise/pause, 30 days rise, these are zoomed in accurate counts), accompanied by already scheduled, public knowledge, key dates and estimated location where they may fall on the chart.
Louky, I've been reading all your posts in all threads. They are helping me out a lot. I agree with what you posted above. I think in order to get that drop before the big up there will have to be a rate hike. Then some kind of big bad economic news or the US stock market begins crashing for the big up to start. Some kind of positive dollar catalyst then negative.
You're right, nomis. I posted in the other thread, but there's nothing else that can cut through that 1308 neckline, like water. It's so obvious. They need the pre brexit stops taken out just like I've been saying. Good job thinking about the bigger picture and seeing how they can accomplish it behind the facade.
Agree. Don't think they hike, but it's fascinating to think about the posibilities. As far as anticipation, yes, nugt, gold, etc normally bottom out a day or two before key events
Also have to stick with 1300-09 as the bottom. Worst case being a "running of the bulls" at 1290. Whatcha think? Lower? You hit that "1440", which was no coincidence by the way. From the rise up Tuesday:
Dollar will hit 96 today (F) and get to the neckline. Dollar will complete shoulder to 96.75ish on Monday (M) and Tuesday(T). No rate hike on Wednesday (W) will tank the dollar and launch gold $100. Plain as day..:-)
The last two months it has meant down, especially in terms of GDX. That said, with the shake out of specs this last week or so. It's possible they flip the script tomorrow I guess. Could be in their best interest to punish the put holders who are now in profit. "Smack up" if you will.
The symmetry I saw in the gold chart has broken down and I haven't been able to see any useful (for me) patterns for over 5 months. However, I still think there's a symmetry in the monthly $ chart and upcoming events may support it and negatively affect gold.