MQP INFINITE REGRESSION 4-K VOLUME READJUSTMENT PRE-REQUISITE
SUMMARY - We are roughly 70+/30- on the big move down still to come. This is what should (and in a way NEEDS TO) happen in order to continue with this entire series of ideas from 4-A to 4-J, and including this post, 4-K.
BACKGROUND - Links below are 4-E, 4-F, 4-I and 4-J. If you are new, they are the 4 posts you need to catch up on this.
DETAILS - *All times are New York*. Pre-requisite means REQUIRED before the big move down. First, in order to "catch down" to the curve, gold really needs 1760-1767 Wednesday morning. IF this happens, it should IMMEDIATELY GET BOUGHT. If you are short, COVER UNDER 1770 before the run up to 1790+ before close around 1775-1780. Thursday NY opens at gap fill circa 1804 (today's close). If all this has happened by Thursday morning, THIS WILL BE OUR NEW #1 SHORT ENTRY. Friday open will be 1730-1750, closer to 1730 I think. Again if all this has happened, COVER HERE TOO before they fill the gap to Thursday's close. Obviously if ALL OF THIS has happened by Friday mid-day, OUR NEW #2 SHORT ENTRY will be the bounce as soon as gold gets WITHIN $5 OF THURSDAY'S CLOSE.
WHY? - The volume waves (not pictured here) is an absolute beast. I wrote 4-J for stops even though I'm still short because I don't want new traders/followers to get stuck and not know what to do. Plus, what I am seeing is the first 40-50 pts move down SHOULD GET AN ALMOST COMPLETE RETRACE. So you won't miss anything if you are out and it will be safer at Thursday's NY open entry anyway. The buying volume will not back down unless we have two legs down that total $100 (meaning combined move of TUE-WED and THU-FRI). There was no way I could have confirmed this until today's open 15 hours ago and I posted as soon as I could. And all of this just close the week around 1770+/-10. Please understand that, my projections require ALMOST IMMEDIATE FOLLOW THROUGH, if a big move doesn't happen in 12 hours, something is USUALLY WRONG Use stops at all times!!
BACKGROUND - Links below are 4-E, 4-F, 4-I and 4-J. If you are new, they are the 4 posts you need to catch up on this.
DETAILS - *All times are New York*. Pre-requisite means REQUIRED before the big move down. First, in order to "catch down" to the curve, gold really needs 1760-1767 Wednesday morning. IF this happens, it should IMMEDIATELY GET BOUGHT. If you are short, COVER UNDER 1770 before the run up to 1790+ before close around 1775-1780. Thursday NY opens at gap fill circa 1804 (today's close). If all this has happened by Thursday morning, THIS WILL BE OUR NEW #1 SHORT ENTRY. Friday open will be 1730-1750, closer to 1730 I think. Again if all this has happened, COVER HERE TOO before they fill the gap to Thursday's close. Obviously if ALL OF THIS has happened by Friday mid-day, OUR NEW #2 SHORT ENTRY will be the bounce as soon as gold gets WITHIN $5 OF THURSDAY'S CLOSE.
WHY? - The volume waves (not pictured here) is an absolute beast. I wrote 4-J for stops even though I'm still short because I don't want new traders/followers to get stuck and not know what to do. Plus, what I am seeing is the first 40-50 pts move down SHOULD GET AN ALMOST COMPLETE RETRACE. So you won't miss anything if you are out and it will be safer at Thursday's NY open entry anyway. The buying volume will not back down unless we have two legs down that total $100 (meaning combined move of TUE-WED and THU-FRI). There was no way I could have confirmed this until today's open 15 hours ago and I posted as soon as I could. And all of this just close the week around 1770+/-10. Please understand that, my projections require ALMOST IMMEDIATE FOLLOW THROUGH, if a big move doesn't happen in 12 hours, something is USUALLY WRONG Use stops at all times!!
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PLEASE HIT LIKE FOR SUPPORT!!
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BTW - This move is EXTREMELY difficult to gauge, so use caution!!
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BTW2 - If Wed'ss low is 1778 OR HIGHER, then I have to believe that gold wants another shot to break the falling trend line here:
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BTW3, if it does, 1822 looks possible before the a leg down to 1775-1785.
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Right this second the giant swings this week are favored heavily over the break out scenario.
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NOTES: SAT 8/28 is FOMC, WED 9/1 is ADP, Fri 9/3 is NFP.
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**** 11:10 AM ET **** CHART IS 3 HOURS EARLY!
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