CAN GOLD TRADE AGAIN IN NEW YORK?

“And he still couldn’t get a girlfriend before he died!!”

As ZH points out today it’s a never ending story that gets boring, simply cuz the

trajectory of national debt and interest costs only knows one direction … up, up

& away exponentially! … the link directly below.

https://www.zerohedge.com/markets/cbo-director-warns-debt-market-meltdown-

us-debt-unprecedented-trajectory

And for the umpteenth million time, today is just like another day of “shit happens

in the Asian and early European sessions”, and then it’s “pretend & maybe extend

a little” some pitiful price action in New York for gold … why start a war with the

Banana Republic when you can bankrupt them and make their fiat worthless, all

the while the Yuan gets backed by gold bullion and capital flows move very

quickly to China? … the data doesn’t lie, as Swiss exports of gold to China from

their refiners, shows a big jump at the start of 2024 and it hasn’t let up one bit

… directly below the data from Bloomberg.

click on any image or chart to enlarge

Meanwhile, the clueless Uniparty Dopes in the U.S. borrow money at the RATE

OF $1 TRILLION DOLLARS EVERY 100 DAYS, and then get to pay interest on

that debt … and you wonder why gold and crypto are headed North to

unfathomable levels in the future? … gold would need to be priced around the

value of $60K per OZ., if the U.S. still has any left of the approximate 260 million

OZ. the FED says they have but won’t let anybody actually verify that number

with an audit, and if they stopped borrowing money today! … well guess what?

… that ain’t gonna happen!!

The real question for me, IS CAN IT TRADE ON THIS SIDE OF THE GLOBE AND

GIVE US OPPORTUNITY FOR PROFIT, OR IS EVERYTHING A FUNCTION OF

CHINA IN THE ASIAN SESSION? … quite frankly, $10 - $15 ranges for New York

is pathetic for a market that finds itself at $2200, and North America is

considered the “primary market” … we should be seeing $20 - $30+ ranges in

New York but aren’t even coming consistently close to that right now … I expect

that to change here very shortly! … buckle up Skippy, the potential outlook for

gold to go much higher and for ranges to be extended is very promising … place

your perspective on gold as if it’s simply a crypto currency in very high central

bank demand … it makes much more common sense!

Looking at the 20 Day Range MA & MEDIAN values I publish on the Sunday

update, unless SHTF in a major way I don’t see the crypto pairs BTC and/or ETH

extending values in a major way going forward, and if anything slowing down

into the BTC “halving” and the utter confusion created by a feckless SEC towards

an ETF for ETH … this should slow MOMO down some for the immediate future

… on the other hand, gold is in the MOST SILENT BULL MARKET IN HISTORY,

with almost no retail participation I can see with silver lagging badly … the

ChiComs and other central banks are the main drivers, and I don’t expect them to

abandon gold or start selling anytime soon, like forever! … why should they?

… the U.S. is destroying itself, while they accumulate every ounce they can get to

eventually back the Yuan fully with gold … and to the same extent, the Ruskies

are in the same boat … in other words, gold looks poised for better trading action

… and that means I’ll be looking at it closely earlier in the day, starting my trading

around 5 - 6 AM EST … if it dies, then it dies and I’ll adjust, but I would be

shocked if all of a sudden the ChiComs started to ignore gold.

Currently on the m15, I have RM=3 [ORANGE] & RM=4 [RED] as support /

resistance levels … if going forward these levels start to get consistently hit,

I’ll adjust volatilities higher and post the new gold mq4 in “Download Links”

… today’s m15 chart directly below.

As I have previously stated, where traders go wrong in determining support and

resistance, it’s cuz they only focus on price and ignore volatilities … you simply

have to know generally where VIX is, and the RM levels determine that quite

nicely! … on the m1, current gold RM’s are at RM=2 & RM=3 … into the New York

afternoon, and so far New York has about an $11 range for the day … pathetic,

simply pathetic, but there’s enough in that to scalp but I would be hesitant to keep

trades on for a longer day trade in this environment.[And as I write gold has just

hit a new high for the day, after screwing around for hours inside of chop … the

m15 high gave way, and it’s off to the races … quite frankly, there isn’t any place

for shorts to go except for extreme short term scalps, and if you’re wrong,

you’re gone! … gold now, around 1 PM EST, with about a $38 dollar per OZ.

daily range, and about a $20 range in New York, which is where I said previously

it should be experiencing … all it has to do now is remain relatively consistent,

or go even higher!]

On this latest move upward, directly below a screenshot of the m15 [left] and the

m1 [right] with RM levels and the full algorithm . when any market, crypto or gold

moves, it doesn’t get any better than this.

When that m15 high at 19:00 got taken out, all of the algorithm parameters were

lined up for a move higher … both m1 and m15 were “white”, and the histogram

of the simple EMA MACD [8 period fast, 15 period slow] MOVED OVER THE

LEVEL 0 YELLOW LINE.

ETH price action today disappointing, not cuz of a lack of price movement, but

cuz of restricted range movement after a sizeable move in late Asia … that

usually means chop, and sure enough we got it … only one trade in ETH fr the

PAMM today, and WE’RE UP SLIGHTLY … ONTO TOMORROW AND GOLD!

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas