RE
RE5.13.20 RE This video is an important insight to how I look at markets. Do not freak out. I posted this for one of my students but I want other traders to look at it. My two students will know how to handle this, yet there is value to looking at how I would approach this. Intuitively this will be very appealing to many people who are watching, but to others you need to watch a little bit longer and give it a chance. You will not be able to look at one or two charts like this and trade. Do not worry about it, but trawl some of these lines, take a snapshot and reproduce the lines, it will be worthwhile. When I start back to trading, I will not be a signal service and tell you when to trade, but you will have a very good idea of how I look at markets and what I'm probably up to when you get facile enough to draw the lines, and look at structure, price action, and expansion and contraction of markets. 135 patterns, our patterns. When markets move lower, the professionals will run the stops. When markets find a bottom, sellers will try to push the market lower, and if it's a bullish market the sellers will fail to make new lows. We will talk about all the stuff. And if you are a short order cook at a takeout hamburger place, instead of having nightmares of a commercial stove filled with greasy hamburgers, you will start having nightmares about range boxes and 135 reversal patterns, and this will be your clue that you're starting to see the market in a more proficient and accurate way. After all, I think we can agree that some nightmares are better than others.
Gold in Re-Accumulation?Gold is expected to be trading in re-accumulation instead of distribution in view of a "Spring" event.
Spring is a exhaustion of supply, indicating demand is expected to be back in control.
A breakout from the creek (resistance), we will expect Gold to trade further.
1st TP: 1,550 level (Previous high +2.618% Fibo)
2nd TP: 1,600 (Whole Number Effect + 4.236$ Fibo Level
Stop: 1,460 (Spring Low)