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Gold Price - Where is it heading?
- Thread starter guycharles
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My apologies everyone, those previous charts were GDX charts and I said they were GLD. This is a six day Heikin-Ashi GLD chart with the same stuff on it which includes data from last night's session. It's a little different. I'm not Russian but I was russian last night.
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The market doesn't always follow it but the seasonal trend is a factor that may strengthen or weaken our analysis, I'm not saying that gold will follow it this year, since February GLD hasn't followed the seasonal trend and I'm hoping it won't start to follow it now.
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China buys another 8.09 tons:
jog on
duc
jog on
duc
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well once ( most of ) the world switches to CBDCs where is the accountability to expenditure , i can't believe the public will be given unfettered access to the CBDC ledger , and further more what is a government promise worth ( either nationally or internationally ) because it isn't secured against anything ( except maybe tax-payer future payments )
obviously the administration will take total control of the ledger ( and will probably manipulate it anyway they like )
which would you prefer to take as payment , something physical or another government promise.
obviously the administration will take total control of the ledger ( and will probably manipulate it anyway they like )
which would you prefer to take as payment , something physical or another government promise.
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IT’S WORSE THAN WE THOUGHT! (THIS CHANGES EVERYTHING!)
DYOR
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now of course the reverse side of the Chinese gold buying , is what are they using to pay for the gold , ie are they using cash from matured ( US Treasury ) bonds , cash from the trade surplus , or some others sources ( say buying gold on the Singapore , Shanghai , or straight from the Chinese miners )
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Dieu est mon droit
is french not latin BTW, as we discover this report is actually a new King, not a UK currency...
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the royal line petered out with Richard III
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Still weird this irruption of royal seal in a UK finance department area..could be a mistake done by one of these new British citizen...
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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Honi soit qui mal y pense
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am very basic in Latin , and even worse in French but was surprised to see the motto was in French
looks like more twists and turns to come will there a disconnect between parliament and throne , it has happened before in 'Old Blighty
Sean K
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There seemed to be a correlation from Mar 22 to Sep 22, but other than that, not sure. Is there a longer time frame to look at?
What's your theory on a triple top, if this was in fact a triple top? Just more consolidation and then explosive runaway FOMO once she breaks up, or is it going into the toilet for a longer period of time?
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Sean this is a two week per bar longer time period chart, as you can see the seasonal affect is hit and miss.
I don't pay a lot of attention to old theory's any more, I try to see what the market doing now, how it's reacting to resistance and support. Some of the old stuff still works but not all, people trade the markets differently now they have instant data and trade with computers. The old theory as I learnt it was, 1) The further apart the equal tops were the stronger the resistance will be, and 2) The more times that the market come up to resistance the weaker that resistance will be and therefore the greater chance of breaking through.
If it holds above the 50SMA then we are OK, if it breaks through the 50 then a bit of worry hoping the 100SMA holds, I don't have say what's next if it breaks through the 100.
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The Andrews Pitchfork provides a way to visually gauge the directional strength of price movement.
Sean K
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Bit of a retrace back towards moving averages was expected by most - anything can happen with Gold though whilst I keep an eye on Russia/Ukraine conflict & possible/likely war escalation threat etc. as can't see neither Russia nor NATO alliance backing down whatsoever (the more weaponry the greater the chance of war escalation occuring). Perceived threat of the deadly 'use of nukes' is increasing day by day imo
Then there's the US debt ceiling dilemma in play come 01st June deadline (chances are it will be passed/approved somehow but never know till the fat lady sings).
Any dip in Gold is perhaps a 'buying opportunity' imo but each to their own.
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