RIGHT NOW #143, MOVING FOR 2700
So the reaction insofar means 2650 gets held, and 2662 is next. That also means everything else that is "yellow route". This continues directly from #142.
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2:29 PM, that line should hold until 2690, maybe even 95
a) but can't call 2700 on that line
b) possible, but unlikely
c) everything up to 2690 is likely for that line
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Note
2:52 PM ET, 2657.28, and why I say that trend lines matter the most...
a) when we move for 2700, and eventually for 2850 and eventually higher...
b) considering gold is gold and virtually retraces every move ALMOST WITHOUT EXCEPTION
c) only trend lines help you in a spot like this
d) to explain why there is no retrace to 2593-2600
e) same reason there was no retrace to 2222
f) this happens VERY VERY VERY RARELY
g) only in spots like this
Note
h) this is that exception Note
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6) in chart above, this is why I changed call to blue route
7) even though I had yellow route originally
8) it seemed just too agressive
9) and honestly, at first tag of 2655 there WAS a rug pull setup
10) but it just didn't happen
11) so I waited to until the maps shifted on 30 second bars before announcing 2662 and 2700
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3:24 PM, 2659.19, UNTIL I HAVE A NEW DRAFT
1) the overall route to 2850 is still #142 (last post)
2) it has not shifted much so there shouldn't be any major changes
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4:07 PM ET NY closed 2663....
a) ok tonight, only 2690 is obvious
b) my impression is this runs into London open
c) and I can't really believe that it keeps going
d) so watch your trend lines especially after 2688
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e) really, London can drop this 40 for NO REASON in particular
f) so be aware
g) and pay attention to the newest trend lines
h) they signal how much 2-way vol we should get on the way to 2690-2720
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7) in chart above, price is developing a strong pattern
8) that is move for 2693-2697 area, then drop 35-40, and why?
9) because London and that's pretty much it
Note
Note
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9:01 PM, HERE IT IS, #144:
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