BEI
Long

CONTRACTING FIBONACCI SPIRAL EXPERIMENT

COMEX:GC1!   GOLD FUTURES
1063 13 5
Just another experimental study.

My rules for now is to spot cycles form bottoms
That's amazing
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derek
3 years ago
I mean its a cool picture but let's not get ridiculous with the 'fibonacci thing' ;)
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BEI derek
3 years ago
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
TradeVulture.com BEI
3 years ago
Can you elaborate on your measurements?
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BEI TradeVulture.com
3 years ago
2000 lows - 2008 lows = 400 bars (trading weeks).
400 * 0.61 = 244 trading weeks, distance between 2008 lows and 2013 = exactly 244 weeks as of last week, before this week's bounce. Ability to hold prices confirms theory.

What is more surprising is that 6 months cycles on GLD, averaging more or less 24 to 25 weeks is exactly standing on this week rebound, that is why you normally buy gold in the summer and sell it at Christmas, form a cyclical historical point of view.

chart attached...
snapshot
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BEI TradeVulture.com
3 years ago
here is seasonal odds attached http://www.kenshofinance.com/so/ticker/search?q=gld
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flipmcf
3 years ago
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.
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Bonkzilla
3 years ago
art.
Reply
BEI
3 years ago
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
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BEI BEI
3 years ago
When i say goes to 164.27 i mean it makes another 164 $ leg to 1470 level
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LEONES PRO BEI
3 years ago
BEI I believe the red line is where gold is heading - 1200
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BEI LEONES
3 years ago
i am beginning to think same thing
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BEI
3 years ago
I really do think this is what happens for gold
GLD LONG
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