Gold - Snakes and Ladders

As you can we are the 1.61 Fib... it stalled there and let folks load up long and after that quick ride down. They do like to use NPF to move the markets.

I have highlighted the VPOCs - notice by design there is one at .50% retracement - to my mind this us the upper market now.

May take a week or two or even 3 to get there.

Personally I have an order right behind the lower VPOC.

Wouldn't surprise me that we only hit this target after hours. As the metals have NO problem moving after hours, especially between the New York and Asian session when no one is watching.

Arguable this when the real moves often happen.

Mind your risk.

Comment:

The 170 Strikes in GLD have 51000 Contracts bought out in October - this is where we were a couple of days ago. This lines up with my upper target.

The 169 have 552 and 171 have 893 for perspective.

Comment:

I should add we are 164.75 currently at the time of posting this chart.