THE GOLD BULL VERY FEW BELIEVE IN

 

“There is nothing new under the sun!!”

I want fo focus today on the micro trading side of gold … not what drives it, but

how it trades … and since we’re at the start of a very big bull market run in gold,

IMHO, I’ll stick to the long side and leave the short side alone … the biggest

difference from yesteryears, is the disappearance of mining companies hedging

production [from the sell side], being replaced by the FED manipulators on the

“Rally Protection Team” [RPT], and the rise to prominence of central banks,

especially the Ruskies & ChiComs, and their stated purpose to back their fiat

with gold.

A few of the things we see in bull markets, we rarely see in neutral or bear

markets … 1) sharp “V” bottoms that don’t come back to test the low but simply

take off to the upside … 2) more RM=2 & RM=3 hits [sometimes RM=4], both on

the upside and the downside, for both m15 and m1 … wider ranges, both daily

and NY, with some “Scumbaggery & Fuckery” moves in off hours … and 3) some

horrendous potential slippage if you get on the wrong side of a move and either

have to buy a green spike up or sell a red spike down … make sure you

understand what your risk parameters are when you dip your toes into this

water … you may find a leg missing if you get sloppy!

I would also add, be very careful of directional movement after about 2 PM EST

… breaks in bull markets with signals negative, and not much time on the clock

to the close can be particularly dangerous for longs … ditto the reverse for

shorts … and what we’ve seen lately are some ferocious late day rallies that

trap shorts.

This is one of those days better left out of the bulls script … nothing in Asia or

Europe in terms of price action, and then from the opening bell of the criminal,

money laundering NYSE open, gold takes off … biggest correction comes only

a half hour after the open after a FOMO panic buy spree that hits RM=3 on the

m15 … that was it, cuz from there to mid afternoon, it’s been straight up with

only cursory $2 - $3 moves lower and very sloppy action … with a spread in the

35 cent range, and slippage ALWAYS TO DEAL WITH, sloppy chop action is

something you want to avoid … these LP assholes will paper cut you to death.

Like I hinted at yesterday, it’s getting to the point where any correction off a top,

that sees price go lower for at least 3 or 4 minutes, and then on the m1 it turns in

price and the slope turns white on the ZLMA, period 15, it’s got a high probability

of success for a scalp trade at a minimum … in this scenario, what you have to be

careful of is the 1 or 2 m1 move higher before it gets “monkey hammered” again

lower leading to loss … on bigger breaks, this will happen quite frequently, and

usually those bigger breaks end either at RM=3 or RM=4 on the m15, and RM=2 or

maybe RM=3 on the m1.

I didn’t see today shaping up like it played out … here we are up at $2300, up 7

days in a row about $125 higher … what I don’t want to see is a sharp rally in the

Asian or early European sessions, cuz that most often spells FED selling in NY

… rarely do all 3 world sessions go in tandem! … a disappointing day, but who

cares? … from my perspective it matters little from a trading perspective where

gold is at … $200, $2,000, or $20,000 I could care less … it’s about the

psychological setups and how they play out, and quite frankly ALWAYS has

been since the dawn of time … no trades today … onto tomorrow!

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

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

-vegas