Watch the supply. Note how many mines are currently open. Check the action of the top 5 silver producers over the past 6 months (on the stock exchange). If it's manipulation, consider that smart money may have entered, and it's pulling back before it pops up again.
This is exactly what I think is going on. These trolls talking about the price being "fixed in London" is irrelevant. They could "fix the price" at a dollar an ounce, and buyers would come pouring in to raise the price back up over $1000/oz pretty much instantly, in a market replete with "bad fills" on bids. The trolls obviously have no idea what a bid and an ask are -- neither are "set by London" but "set buy buyers and sellers" while the markets are open. The "big money" is trying to pull prices down, as you said, and indeed what I was doing was "following" the smart money. The fact is that it takes a number of months for things to show up in price when the big players enter and become net purchasers...it's called the Commitment of Traders report, which the trolls likely never heard of. Interesting that during the shutdown, that report stopped being published. More obfuscation.
I've just been getting that "feeling" I've had in the past that the prices are like a helium balloon being held under water. I've seen it before, London or not, because I've seen the same things in other markets, too. Prices often will rise, fall back, regroup, then march upward for real. It's just more obvious what's going on these days than ever with the other things all pointing to higher prices.
This last week, gold did a pullback from Pivot, to Support 3 (within .50 using classic key level formula). It couldn't get much more on the nose than that for a liquidity spike. Usually I only see that before an interest rate decision on a daily, gold just did it on the weekly... deliberately. So, something is on the horizon with big money in gold.
You're meaning a 50% Fibonacci RT? Yeah I use that tool all the time on my better software but just don't have an active subscription right now. A buddy of mine is a trader, so I just look in on his every morning and have seen the same thing. I think silver either holds here and goes up or goes back below $15 to test $14.78.
I've also noticed over the decades that a big move is preceded by a "mini-move" in the same direction only to come down and re-test the lows before FINALLY taking off. This really smells like one of those times, given the dozens of OTHER things we have to look at, both technical and fundamentally, that points to what should be rising prices. Once the dollar rolls over, that's that "third leg" of the stool, and that'll cause things to really rip. The trick is in knowing exactly when.
What is "PP" previous price? No link here...I do get the Fib stuff just not getting all the formulas w/o some more reference but I recognize those Fib levels for sure...and those first formulas I'm not sure what all the symbols refer to, exactly.
ie: R3 = H + 2 x ( PP - L )
okay, so L is previous day's low. H is the previous high. R3 I take it would be the 3rd resistence level of...what, that trading day or the Elliot wave or in the Fib sequence...?
or R1 = 2 (2 what?) X PP (what's PP?) - L (previous day's low)?
This is a trading staple on the Forex. You'll see it all over the place on the analyst sites, usually under the symbol analysis for currency trading pairs.
Also, USDCHF orbiting parity (1.00000) today, so keep an eye on gold, it looks like it may consolidate.
THanks for the explanation. I kinda figured some were based on previous day's pricing but wasn't sure which was which. I haven't traded currencies before so that's likely why I am not familiar with it. All SORTS of tools like the pitchforks...pretty soon, people are gonna be brandishing the pitchforks instead of charting with 'em lol
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17125319? ago
Watch the supply. Note how many mines are currently open. Check the action of the top 5 silver producers over the past 6 months (on the stock exchange). If it's manipulation, consider that smart money may have entered, and it's pulling back before it pops up again.
17126014? ago
This is exactly what I think is going on. These trolls talking about the price being "fixed in London" is irrelevant. They could "fix the price" at a dollar an ounce, and buyers would come pouring in to raise the price back up over $1000/oz pretty much instantly, in a market replete with "bad fills" on bids. The trolls obviously have no idea what a bid and an ask are -- neither are "set by London" but "set buy buyers and sellers" while the markets are open. The "big money" is trying to pull prices down, as you said, and indeed what I was doing was "following" the smart money. The fact is that it takes a number of months for things to show up in price when the big players enter and become net purchasers...it's called the Commitment of Traders report, which the trolls likely never heard of. Interesting that during the shutdown, that report stopped being published. More obfuscation.
I've just been getting that "feeling" I've had in the past that the prices are like a helium balloon being held under water. I've seen it before, London or not, because I've seen the same things in other markets, too. Prices often will rise, fall back, regroup, then march upward for real. It's just more obvious what's going on these days than ever with the other things all pointing to higher prices.
17127277? ago
This last week, gold did a pullback from Pivot, to Support 3 (within .50 using classic key level formula). It couldn't get much more on the nose than that for a liquidity spike. Usually I only see that before an interest rate decision on a daily, gold just did it on the weekly... deliberately. So, something is on the horizon with big money in gold.
17128846? ago
You're meaning a 50% Fibonacci RT? Yeah I use that tool all the time on my better software but just don't have an active subscription right now. A buddy of mine is a trader, so I just look in on his every morning and have seen the same thing. I think silver either holds here and goes up or goes back below $15 to test $14.78.
I've also noticed over the decades that a big move is preceded by a "mini-move" in the same direction only to come down and re-test the lows before FINALLY taking off. This really smells like one of those times, given the dozens of OTHER things we have to look at, both technical and fundamentally, that points to what should be rising prices. Once the dollar rolls over, that's that "third leg" of the stool, and that'll cause things to really rip. The trick is in knowing exactly when.
17137073? ago
//+------------------------------------------------------------------+
//| Classical Key Level Formulas |
//+------------------------------------------------------------------+
/*********************************************************************
Calculate Support and Resistance
Formula Used:
R3 = H + 2 x ( PP - L )
R2 = PP + ( R1 - S1 )
R1 = 2 x PP - L
PP = (H + C + L) / 3
S1 = 2 x PP - H
S2 = PP - ( R1 - S1 )
S3 = L - 2 x ( H - PP )
Key
H - Previous Days High
L - Previous Days Low
C - Previous Days Close
R - Resistances Levels
S - Supports Levels
Fib is one, maybe it did work on fib, they're a general tendency to do that, because by nature the global economy "breathes", but fib is this:
R3 = PP + ((H-L)*1.000)
R2 = PP + ((H-L)*.618)
R1 = PP + ((H-L)*.382)
PP = (H + L + C) / 3
S1 = PP - ((H-L)*.382)
S2 = PP - ((H-L)*.618)
S3 = PP - ((H-L)*1.000)
17144460? ago
What is "PP" previous price? No link here...I do get the Fib stuff just not getting all the formulas w/o some more reference but I recognize those Fib levels for sure...and those first formulas I'm not sure what all the symbols refer to, exactly.
ie: R3 = H + 2 x ( PP - L )
okay, so L is previous day's low. H is the previous high. R3 I take it would be the 3rd resistence level of...what, that trading day or the Elliot wave or in the Fib sequence...?
or R1 = 2 (2 what?) X PP (what's PP?) - L (previous day's low)?
17144955? ago
PP = Pivot Point
R1-R3 = Resistance 1-3
S1-S3 = Support 1-3
All key levels are based on prior day. At the start of the day, you have no other information to derive from, it's a fresh candle.
Woodie formula will only have two R/S.
Camarilla will have R/S 4
Google: forex pivot formulas link
This is a trading staple on the Forex. You'll see it all over the place on the analyst sites, usually under the symbol analysis for currency trading pairs.
Also, USDCHF orbiting parity (1.00000) today, so keep an eye on gold, it looks like it may consolidate.
17148740? ago
THanks for the explanation. I kinda figured some were based on previous day's pricing but wasn't sure which was which. I haven't traded currencies before so that's likely why I am not familiar with it. All SORTS of tools like the pitchforks...pretty soon, people are gonna be brandishing the pitchforks instead of charting with 'em lol
thanks again I'll look some more at things.