GOLD 16 HOUR TREND #1
INTRODUCTION - This is 02/08/24, 15-min bar, ultra-detailed, 16-hour trend map for spot gold price. This chart is expected to be useful until expiration at dotted line (16 hours). If price disagrees meaningfully then recasting is necessary after 8 hours. If price agrees, then reconfirmation is needed after every 16 hours.
DETAILS - I've given up waiting for the huge rally that's never going to come. So I am only doing 16-hour charts. Today's failure to move into 2040s means "sideways to up" until 03/20 FOMC, or roughly 40 days. This also means:
1) trend continuation (w/ exception of overnight surprise)
2) retest triangle support again
3) support to hold, that's all
WARNING - This material is for experienced and responsible traders only. If you have any question in your mind whether you are experienced or responsible, then THIS IS NOT FOR YOU. As precaution, the first rule of trading is DO NOT lose money. As reminder, the second rule of trading is do not forget the first rule. As prerequisite, please familiarize with this process first before applying to your strategy. As usual, this MUST be used with continuing notes posted throughout duration of this forecast to supplement but NOT REPLACE your trading discipline and risk management. If the limits of the update feature or update frequency do not satisfy your risk profile, then THIS IS NOT FOR YOU. As always, when price action disagrees with forecast meaningfully to you, IMMEDIATELY SCRAP THE FORECAST and trade defensively. If it is not obvious to you what meaningfully means in this context, then I repeat for a third and final time, THIS IS NOT FOR YOU
DETAILS - I've given up waiting for the huge rally that's never going to come. So I am only doing 16-hour charts. Today's failure to move into 2040s means "sideways to up" until 03/20 FOMC, or roughly 40 days. This also means:
1) trend continuation (w/ exception of overnight surprise)
2) retest triangle support again
3) support to hold, that's all
WARNING - This material is for experienced and responsible traders only. If you have any question in your mind whether you are experienced or responsible, then THIS IS NOT FOR YOU. As precaution, the first rule of trading is DO NOT lose money. As reminder, the second rule of trading is do not forget the first rule. As prerequisite, please familiarize with this process first before applying to your strategy. As usual, this MUST be used with continuing notes posted throughout duration of this forecast to supplement but NOT REPLACE your trading discipline and risk management. If the limits of the update feature or update frequency do not satisfy your risk profile, then THIS IS NOT FOR YOU. As always, when price action disagrees with forecast meaningfully to you, IMMEDIATELY SCRAP THE FORECAST and trade defensively. If it is not obvious to you what meaningfully means in this context, then I repeat for a third and final time, THIS IS NOT FOR YOU
Note
9:19 PM - VOL IS INCREASING FOR TOMORROW:a) for chart above:
b) ceiling is now 2039
c) but floor has gotten deeper too at 2017
d) 2017 should hold if hit
Note
11:02 PM - VOL DECREASED A BIT:a) to 2036
b) floor 2018
Note
11:12 PM - MOVED: 2035-2017Note
11:26 PM ET - TO CLEAR UP ANY MISUNDERSTANDINGSa) the 2035-2017 is for 3 AM TO 9 AM ET
b) before 3 AM, or next 3.5 hours, range is still tight roughly 29.5 to 34.5
Note
1:37 AM - 2035-2022Note
2:02 AM 2035-2025 is now vol range for 3AM TO 9 AM ... a) that's a lot tighter than I was expecting hours ago
b) so where does leave the close?
c) don't' have enough to expect a big close or anything like that
d) it's not going to be far from 2034
Note
3:16 AM ET... All of sudden breaks sideways trend. Right at 3 AM ET. Hmmm...1) a little bit too much of a coincidence, wouldn't you say
2) another round of people waking up right at 3 AM ET...
3) and decides...
4) I'm going to sell some gold today
5) not saying it's manipulated, but it is weird you know?
6) after 100 times, it's kind of getting old
Note
8:09 AM ET tagged 2026 flat..1) should be really close to floor
2) if not floor already
Note
8:55 AM ET MAP EXPIRED IMMEDIATELY!!1) price broke important levels
2) forecast no longer relevant
Note
8:54 AM TYPO previous time stamp, that was 8:35 AM8:55 AM Consider:
Note
9:28 AM moving to new low today at 24.xx a) that's REALLY UNEXPECTED
b) so NY opens in 2 min
c) this should clear up what it is going to do
d) in this situation, by the time I have a map ready, the move is over (for today)
Note
Note
a) in chart above from seconds agob) we are pushing new daily lows at 23.xx
c) after open, after news, after blah blah
d) seriously 2023.72 as I type and a giant waste of time
Note
02/09 1:00 PM FRIDAY WRAP UP:a) for chart above, I am so frustrated with gold
b) and I hate myself or not buying bitcoin at 100 WHEN I WAS TOLD TO PUT 10K IN IT...
c) and I didn't (stupid waste of time and money was I thought)..
d) and I was dead wrong
e) so will the universe give us a reason to continue?
f) if it does, that reason should be:
1) we should close mid 2030s
2) we should hit mid 2040s Sunday night
3) we should hit mid 2050s Monday morning
4) we need that to continue
5) we don't live forever
6) we can't buy something that doesn't pay
7) that's a wrap
Note
THIS POST HAS ENDED, HERE IS NEXT 16 HOURS:
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.