Loading ...Gold s&r rails
Gold will have a really hard time recovering the top rail shown here. It is clear S&R and there are a lot of trapped bulls because of the false break. Secondly it’s forcing it to lose the white line which has 6 touches… once that goes it will be swift. The modified wedge won’t hold once it loses the white rail. S&R like this are not easily recovered. Miners leading the way. Gdx in a clear daily flag and looks like a perfect H&S formation.
The only hope I see for bulls is $14 silver support and the dollar wedge which I think will break up
Ya it looks like it’s gonna break and break hard – there is some “cycle guru” saying that a “big player “ is caught short and as such the behaviour of this ICL in gold is not behaving accordingly . This means … my work is bullshit and when it doesn’t go accordingly I’ll explain it by the “cartel” , big players “ “banisters” etc .
You must be talking about Gary Savage.
No but another person who was on this site – invented the “around the apex move “
Oh my… don’t get me started. If I see another fake break out (FBO) I’m gonna puke. It’s not a fake breakout when it has met its target in the direction of the fake. Every chart…FBO
Hahaha the guy is a clown and so are other cycle people … no offence
I dont have a problem with cycles. That particular trader though is one reason I stopped reading this page. He’s literally wrong all the time, never admitted it and his charts were a joke… and people loved him!
now I’m sorry. End rant.
Ya they love him because he feeds a f-in fantasy which is sad -because in reality it’s peoples hard earned life savings – I am noticing a lot of people on Twitter saying back up the truck and buy the dips … not a bottom as of yet
Thanks for the shout PK and nice charts. lol, Savage and Graddhy…two peas in a pod. TD, G actually took that ATA from Rambus as they do occur from time to time but graddhy is all about chartideology and not chartology. He’s got false BO’s that last 3 or 4 years…lol Unfortunately, he blocked me after our big scrum so I lost one of the markets best fade indicators. There are also legit cycle guys like Hadik but even he will tell you that cycle work is not the holy grail and a cycle isn’t shit if price doesn’t confirm it…that’s where the “cycle” guys you are referring to get it all wrong. They think a stock charts cycle tool makes them a cycle guy when in reality it’s just chart flair. We are going to get a healthy dose of redrawn lines and fat ones at that to keep the bull narrative alive…all the breaking of support will just be another BT drawn a different way. I know this because I’ve done that shit before…clinging to a narrative and not believing the ultimate arbiter…price action.
Exactly – price is reality – what you believe means diddly squat it’s what reality dictates to you … next month is going to be fun – :)!
Haha. I didn’t realize you guys had a skirmish. I remember Fully questioning him a few times and it seemed like everyone had Graddy’s back and so I stopped reading. I mostly feel bad for his followers because they are probably losing real money. I’m excited for the next few weeks. I think the real fireworks are just about to get going as you are aware. Would love to see a gap down in gdx below H&S neckline tomorrow. I’ve turned significantly more bearish since my previous projections and I look forward to tracking the XAU chart you posted… as it looks really realistic. The 2 hammers at $60 are clear bounce areas. Let’s see where gold ends up… I have some projections before a bounce. Hopefully they align.
I thought this would put a cap on this thread
from Rambus Wednesday Report last night
One of the toughest parts of trading is to get your initial position to stick long enough to be able to ride out the enviable countertrend rallies that almost always take place. If you don’t have good Chartology then it is hard to know where you sit in regards to where the price action is. Having some good trendlines in place, you know where the trade may go wrong and you can cut your losses before they get too big. Good Chartology also lets you anticipate how the coming move may play out in real time looking for important support and resistance lines to help guide you. As long as those important trendlines that you find keep working you let the trade run. Knowing where your trade is relative to your Chartology makes trading much more interesting than just guessing where you think prices are headed either up or down