It seems Brainard has pulled the trigger for the USD collapse and gold is finally ready to run. Divergencies on the hourly chart at every indicators.... We also printed a key reversal on the hourly chart.
Comments
Nightstar
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Gold Bears! You're forgetting two very important points.. Gold has just started a brand new cycle which is unlikely going to top on day 3/4 (that would be unheard of) and the dollar is due for an ICL which will put pressure on Gold to the upside. This is why Technical Chart Analysis is limited and sometimes unreliable when used on its own -- yes that includes Elliot Wave Theory.
Ps: My trading relied heavily on technical chart analysis 10+ years ago.. but I only started making consistent money when I included Cycle Analysis and Sentiment to my arsenal. I suggest you do the same if you wanna retire in style :)
toothless
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Does "sentiment" equal teasing out smartmoney manipulation? hahah! Because I'm shocked to learn how much manipulation goes on in the market. Huge thanks to Arpi for helping see through everything.
Nightstar
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Manipulation is very real unfortunately and one as to adapt accordingly.. There is no way in Hell the Banks are gonna leave it up to chance, Lol! Which means.. Cycles can get stretched and the landscape can look very different from one week to another. If it was easy, everyone would be living on a yacht in the Bahamas eating Lobster, right? The point that I'm trying to make is to use every tool at your disposal (the ones that work of course) to improve your chances of a successful trade. If you can do that and leave ego and greed at the door.. you'll do just fine!
GrantShuttleworth
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Whats ICL?
Nightstar
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Intermediate Cycle Low
GrantShuttleworth
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Thanks. Im going to look into cycles.
Nightstar
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You're in the right place my friend :)
msia0800
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Newbie here. Any recommended reading to understand cycle better?
mrtommifunn
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I could not have put it better, Cycles can be delayed but they are inevitable. A great example that can be seen right now is sp500. The cycle lows were delayed but in the end the power of the cycle came home to roost.
lslcqq1984
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Sir, is any book we can learn the cycle counting or any book, really appreciate!
Ps: My trading relied heavily on technical chart analysis 10+ years ago.. but I only started making consistent money when I included Cycle Analysis and Sentiment to my arsenal. I suggest you do the same if you wanna retire in style :)