ridethepig | A Homerun in Gold...In the realm of swing trading, the struggle for liberation is forever prevalent. It would be wrong to ignore the opening move here at 1205;
This kickstarted the entire move towards $1305, once outside of the wedge buyers took an "anything goes" approach to the price as risk began to evolve over time. While the triangle from an elliot wave perspective was deemed risky, this move now became a standard:
What is much more the point, is the rise in popularity of the wedge break. It was offering opportunities on both sides and while inflation was absent during 1H19 it presented a tradable ABC correction:
The lows held and was sending loud messages that real money was on the move, this was a BTFD opportunity as see in these positions:
Finally the technical development was there, it was just a matter for buyers to challenge the relevance of what is undeniable a useful strategy... Support:
I am talking about the final stages of the middlegame here before we transition to endgame (in play now). Naturally the Santanomics kicked into play:
Opening up $1650 and $1700 targets ... let's continue to ride the pig:
In conclusion, by now we should all be fully loaded on the buy side here. There has certainly been opportunities even in this last leg to have increased exposure via PBOC intervention:
Valentines Day:
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You get the point. A textbook example of setting up the foundations for a major swing and executing on it with precision. The macro assured us the whole time that sellers would not be able to compete!!
Hope it has helped.. thanks as usual for keeping your support coming with likes, comments and etc!
Buyers on the attack aimed first at the highs
