Looks like China bought up a bunch of Gold, PA broke the crucial 1265 resistance and spiked up to hit the 272 area. If PA can break the 272 and hold, we will probably see another move up to test the 61.8 fib. If PA is unable to break this level, there are still a bunch of very strong clusters down below to target.
Comments
848evo
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Thanks guys! Hope you find the information useful and good luck!
avento
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How do you calculate these clusters (by volumes, by significant levels in options, or somehow else)?
848evo
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I used to work for a fund and most don't realize this, but major institutions like hedge funds, brokers, banks, etc...can see where all their clients place orders, but it's hidden information from the public as they do not want you to know this. I still have access to the data feed for 2 major hedge funds so I can still see this data. However, keep in mind these do not represent 100% of the orders in the market, no one can, but I'd say between the two funds, they represent roughly 10 to maybe 15% of volume. I then use volume profile to determine which clusters are at important levels.
avento
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Thank you!
Richmand808
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Haha! Nice! I stumbled across your post yesterday and was curious how you managed to come by this privileged info, now I know. Generous of you to share this insight. I hope you make a killing! Aloha!