BEI
Long

CONTRACTING FIBONACCI SPIRAL EXPERIMENT

COMEX:GC1!   GOLD FUTURES
1074 13 5
Just another experimental study.

My rules for now is to spot cycles form bottoms
I really do think this is what happens for gold
Reply
this week's price action is shacking the spiral theory...
I am very disappointed in metals right now, the 250 dollars range of the last bull rally in Gold shifted the side of the trade to the bulls on higher time frame (why i was still looking to buy), but this 120 $ pullback violates the 70 $ range on smaller time frame, canceling the potential bottom we had been waiting for. Next test will determine and thus confirm what is the next move to follow, only if 1309-1313 current level holds. case #1: 50-60 dollars bounce and more down, around ma34 test on daily or #2- breaks trough last high and goes to 164.27. i give it 50/50 since the confusion between higher and smaller TF.
Specific miners and SLV still holding above MA50 on daily timeframe
snapshot
Reply
BEI BEI
When i say goes to 164.27 i mean it makes another 164 $ leg to 1470 level
Reply
BEI I believe the red line is where gold is heading - 1200
Reply
BEI LEONES
i am beginning to think same thing
Reply
art.
Reply
As a Fibonacci freak (math wise) this is really, really cool. As a trader, I'm slightly skeptical, but will certainly pay attention to see how this experiment pans out.
Reply
I mean its a cool picture but let's not get ridiculous with the 'fibonacci thing' ;)
Reply
BEI derek
that is why it is i call an experiment... you can find those relations everywhere, i agree. Per example 87-00-08-13? on market correction etc...i don't trade them even if the correlation is quite peculiar. you can find other charts on why i am buying a bull on metals other than this one.
+1 Reply
Can you elaborate on your measurements?
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out