These intraday reversals–when they happen and when they don’t:
For years I’ve thought that the daily gold movements have been a bit like paper-rock-scissors. Your apt posting reminded me of that idea. I wonder whether you also have compared to the p/r/s game.
Further, a couple of years ago I read that a paper pointed to a non-random pattern in winning-vs-losing paper-rock-scissors. (In some international competition, possibly financially related one country–Japan?; China???–seemed to have used the results of the paper to its advantage.) I forget details.
In any case, if there is an analogy to paper-rock-scissors it may carry over to your having noted out a non-random component to the opening of the markets that can be gamed, at least this week and possibly for a much longer epoch.
Sorry Karl, I am not sure I follow. My thoughts about an intra-day reversal was a a bit more than an educated guess as it was based on my chart work and cycle timing. The pattern reversal was also perfect, IMO, to shake weak hands off the Bull. The intra-day volatility has been crazy and hard for many to take. I try to ignore it unless I am looking to add to my positions.
Now we need to see if the low is in and the uptrend resumes. I think so, but that is still to be determined.
Kudos..If it holds we have a nice Bullish candle in place!
otherwise just a gap fill and plunge back down. Ugh……good for you daytraders maybe.
Gold up, stock market up, USD down, Yen up, and mining indexes are all down. Nothing is wrong here??????????
These intraday reversals–when they happen and when they don’t:
For years I’ve thought that the daily gold movements have been a bit like paper-rock-scissors. Your apt posting reminded me of that idea. I wonder whether you also have compared to the p/r/s game.
Further, a couple of years ago I read that a paper pointed to a non-random pattern in winning-vs-losing paper-rock-scissors. (In some international competition, possibly financially related one country–Japan?; China???–seemed to have used the results of the paper to its advantage.) I forget details.
In any case, if there is an analogy to paper-rock-scissors it may carry over to your having noted out a non-random component to the opening of the markets that can be gamed, at least this week and possibly for a much longer epoch.
Sorry Karl, I am not sure I follow. My thoughts about an intra-day reversal was a a bit more than an educated guess as it was based on my chart work and cycle timing. The pattern reversal was also perfect, IMO, to shake weak hands off the Bull. The intra-day volatility has been crazy and hard for many to take. I try to ignore it unless I am looking to add to my positions.
Now we need to see if the low is in and the uptrend resumes. I think so, but that is still to be determined.
Good call, Surf. HUI ended with a great hammer.
😉