Gold might do puke to 1446 according to Armstrong
would not like that low number, as my gold is marked at 1518
of course at that gold number, wondering what everything else would be priced at
ask-socrates.com
Blog
Trading Opportunities: Time and Price Meet
Timeframe: Weekly and Monthly
Comex Gold on Watchlist for a Major Low on May 8, 2021
NOTES:
There is a major opportunity in Comex Gold coming up. The 5.6-year dominant Gold Cycle is due on May 8, 2021. This same Cycle provided the low in Comex Gold April 2, 2019.
Time and Price meet on April 2, 2019, within a $0.10 variance.
Comex Gold Cycles are also lining up for May and the week of the 10th, right in line with the 5.6-year Cycle.
We will monitor Comex Gold Cycles on Weekly and Daily levels as we get closer to May. They will most likely line up with the 5.6 year-Cycle. This might be one of the biggest trades this year. So far, it looks like Comex Gold is on the way for a May 8 low.
The low this month is $1673.3 so far, with the Monthly Bearish Reversal at $1675, and next at $1551 and $1519.6. The Quarterly target is $1446.10.
There should be a Panic Cycle in 2021, so an outside Reversals is possible. Also, May is ten months down on a closing basis (Bearish Trading Cycle).
NOTES:
Reversals can only be elected on the close of that time unit (e.g., weekly end of last trading day in the week).
Cycles normally alternate (high-low-high). If the price exceeds the previous high/low intraday and on a closing basis, then it’s a cycle inversion (e.g., two or more of the same events in a row (high-high, etc.).
Time and Price Meet Strategies:
Strategy #1 Test Reversal at High Bar
Strategy #2 Take out Low of High Bar / or High of Low Bar
Strategy #3 Take out Reversal |
