forker
Short

Gold - Potential to fall below 1100

COMEX:GC1!   GOLD FUTURES
Trade what you see...Facts, nothing more.

In this Chart the facts are, Gold             has had havy resistance athe the CL's and the U-MLH, now breaking the most important, Big-Boy CL's again to the South.

Steam is blown in the wind and many probably getting hurt...again...

Longterm i see Gold             far below 1100, not just at the CL             .
...but this is just my opinion, no facts, just reading in the Espresso ;-)

P!
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master is back, missed your great forks, mate :)
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forker PRO look4edge
LOL §8-))
TNX mate - but i'm not a master, just a little talent... maybe ;-)

Great to be a part of you guys!
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There is a big battle looming here for sure.
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forker PRO Justiceisfalse
jep! Let's let them play it out ;-)
+1 Reply
Couldn't it be an application of the hagopian rule? Didn't pull back to the ML again...I'm long from the recent rebound.
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forker PRO IvanLabrie
You're right Ivan.
It's a HGPN. But since HGPN rule is not a "hard rule from the framework" to judge as the others, i mostly take HGPN just the first time as a filter when markets approach the CL.

In this case, what the market is telling me right now is:
- Overall DT
- Mid Trend also down
- Flow stopped and turned on a dime at the U-MLH ...again
- and if you read the bars, specially the one that touched the U-MLH, it is a bar which closed very low to be a bullish one.

Allways appreciate your observation and comments Buddy, tnx!
Reply
Just a bunch of volume holding it there. I have 4 reasons to stay long:
#1: Time at mode long setup (outlined in Tim West's last publication) price above a cluster of old order flow
#2: Potential Elliott Wave count (implies a wave 3 advance might shoot from here)
#3: Mostly bears everywhere
#4: extra saucey Hagopian rule+uptrend fork (if drawn from my pivots below:)

snapshot
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IvanLabrie PRO IvanLabrie
And PB fork:

snapshot


Correct me if I'm wrong...and hand me an espresso, please. :D
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IvanLabrie PRO IvanLabrie
(ML rejected it big time there don't you think?)
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forker PRO IvanLabrie
You're right again.
Stay with what you see...nothing more or less.
My TA is just what i see - so IMO, it's not about right or wrong - it's about how you play what you see.

Cool Chart BTW :)
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