I will start a topic for this week.

Gold is still in its strong bounce mode. It may, indeed, be done going down, as all the pundits say, and if so it's headed for $5,000+. At the least, new all-time highs. So, I feel really silly saying my next two areas to watch are:

52.50-63.00

83-90 (but possibly as high as 95 or even a bit higher depending on how long it takes)

After that 1325-40+. This level would be nice, but if it gets that high, will it stop?

Like I said, I'm not sure there is any point to posting these levels at all, since gold will most likely just head up 1,000 without a break (or 4,000), like all the pundits keep saying over and over and over, right?

I might be able to refine these areas as this gets closer.

A small bounce similar to the one that happened on Friday or stronger reaction?

I have three strong resistance areas for the Euro.
If it makes it through the lowest one, either of the two higher zones will constitute 4PT. But it may also be a flat or DB ABCD, given the C point at .96 retracement of AB.

It went through the first zone without any reaction and made a new HOD.

Okay, I'm about to say one of the silliest things I've ever said. I'm watching the ES between 20 here and say 24 (although there is something at 26.25 that could act as a magnet). Like this has any chance of anything but 'up'. Too funny. But, like a chump I am watching anyway. Otherwise it's ride until close, ride until 2000...

Gold headed right to 61.70, and has reacted. For how much, I don't know. I suspect rather little, but we'll see. It had quite a violent reaction lower down shortly after the open last night.

Originally posted by jimkane

Gold is still in its strong bounce mode. It may, indeed, be done going down, as all the pundits say, and if so it's headed for $5,000+. At the least, new all-time highs. So, I feel really silly saying my next two areas to watch are:

52.50-63.00

83-90 (but possibly as high as 95 or even a bit higher depending on how long it takes)

After that 1325-40+. This level would be nice, but if it gets that high, will it stop?

Like I said, I'm not sure there is any point to posting these levels at all, since gold will most likely just head up 1,000 without a break (or 4,000), like all the pundits keep saying over and over and over, right?

I might be able to refine these areas as this gets closer.

Watch the 1-2-tick game here. It's been dead since the first hour, it's nothing but games and narrow range chop. All the energy was blown in the overnight for a change. But maybe if it chops enough it can get the next leg going.

Curious 1-2-tick reaction, but they'll come right back in hard to the upside, right?

Watch to see how it handles the 'backtest' of price flow here on the 1-min. I would expect up through it like it wasn't even there.

Yeah, they planned it well.

Originally posted by rat89

So cool....163.08 into the close for a 1.27 dbs