This is the busiest chart I will show and for a reason.
I only buy gold 2X per year, the July top in the equity market (July 22 on average) and December 15 after the 4th Quarter Fed announcement.
- 2013 Neckline shown
- Schiff that perfectly fits the current weekly data
- Gold range for 2018 has been near perfect CAM ( ) R3 to S3. This is classic CAM strategy.
- (top indicator) oversold
- Larry and RSI-2 at bottom oversold
- Top is just under the Year and Year CAM R3.
- Top is near the midline of major weekly guiding the current trend.
- Bottom for the year is near exactly Year CAM S3.
False breakout for USDCHF .
- Bottom of the year was Year CAM S4
- Top is Year CAM R3
Main Chart window.
- 2018 Top is Year CAM R3
- 2018 Bottom is Year CAM S3
- 2018 Bottom was 2 pips off Year CAM S3 and Year
- The fact that the and S3 are so close together makes for huge support
What does all of this mean? I trade probably 50% of the time, and the general rule of them when you witness a Level 3 to Level 3 movement, whether that be Day, Week, Month, Year , is that we revert to the previous period close. This would mean that by the end of the year, we revert to the 2017 close for all of these instruments. I can show countless examples of this.
Final thing, the SPX 20 Year Seasonal, which we are following to a T for the month of July. On average DXY tops in July with stocks. I closed my ES long positions this week as we just hit the target again, as well as Year CAM R3.
SPX500 looks like it is making a perfect top with an inner completed by an impulse wave. As much as I don’t like to listen to the pundits out there calling for danger, it feels like a 1987 style October is coming this year. I suspect that will kick the above chart of SPX down to the Year CAM S4 near 2420.00, but that is my personal pipe dream.
1. Do broken resistances (supports) become supports (resistances) when price gets back to them?
2. Are you aware of any indicators allowing to plot several C-pivots simultaneously (like weekly and monthly in one indicator) - 'cause I'm limited to 3 indicators only.
I'm Learning more and more about the value of CAMs from your charts everyday...
I do have a quick question: For the 1st DXY chart...
...why did you set your pitchfork at Mar-2015 (in YELLOW) instead of the equal (and more recent) swing-high at Dec-2015 (in BLUE)..?
(see snapshot below for details)
Any thoughts/feedback would be greatly appreciated...!
Thanks again for the feedback and (wider) POV.
We'll have to continue this discussion in 3-5 years as events unfold...