April 20, 2016
Re: How people end up buying highs and getting trapped on anticipation rather than waiting for confirmation
Because, I attended the Martin Armstrong November 2015 Conference, I received the ”Trader Level” Beta test on January 8, 2016. Glitches and Kinks in the Beta version are constantly being fixed. Also, Attendees that November Conference established a Discussion Group which has assisted me and my subscribers in making Money Making trades, since January 15.
The following is a quote from a Discussion Group member posted today:
“I think it's important to remind ourselves how hectic things are right now. This is a crazy time in the market, and here we find ourselves ultra zoomed-in trying to define everything inside a shitstorm.
Not quite the Big Picture, but the Zoomed-out Picture: Prices are being pushed to extremes, so doubt for big correction is rising as well. Majority of people here seems to be very worried they are missing out on gold trade, yet if they have expectations for it to go so high, why be worried about getting in so early? Whether you like the arrays or not, the longer time levels seem to, at the least, give you an idea of when movement will happen. The next few weeks are clearly pointing to things happening, so we should at least be patient and wait for a better confirmation. Also, not sure when it changed, but Socrates [Trader Level Beta test] on monthly dashboard calling for 'Preparing For Waterfall to Downside". Quarterly Cycle map calls for Direction Change Q2 and Q3 with high-low trading cycle and panic cycle in Q3.
For me USD is still the only currency to hold on to. I'm thinking if this April low holds we should see uptrend until June. But it somewhat pointless to analyse this right now with ECB this week, FED next week (which will be particularly substantial for confirming FED's stance for foreign/domestic priority), and the numbers for monthly closing. Then there is also that week of May 2nd which seems to be showing up on every chart. Really need to wait and see.
Without getting into the conversation whether Marty missed the trade (gold low) or not, he obviously knows what he's doing, and has no reason to mislead anyone. Keeping the powder dry for the good part of this year was the idea, so let's just be patient before really jumping in hard. I trade forex short term just to stay on my toes and have some fun, but longer term positions like this thread is for, calls for a different mindset. Let's be cool, calm, and collective. We are a really good gang of traders on here. Working together and continually putting input we will definitively not miss out.”
The last sentence in yesterday’s Private Blog by Martin Armstrong (MA) is also revealing:
There is just no reason to assume trends have reversed until they exceed the key points. This is a dangerous game for this is how people end up buying highs getting trapped on anticipation rather than waiting for confirmation.
Our Team’s analysis before we enter into a trade is focussed on MA and his computer generated oracle “Socrates” with its Daily forecasts and alerts.
We totally concur with MA and are waiting for confirmation to decide on a decisive Gold buy or sell signal from Socrates. Gold is consolidating and for now the Hard Price Top price is 1,261 with Resistance at 1,261.70. Today, for us as well as for our subscribers, if we buy here then there is a lot of risk therefore; we sit back and wait for confirmation before we enter a Trade in Gold.
As an example of why we are waiting for confirmation, have a look at the Socrates generated Trend Indicators from the date of our previous letter compared to the one today: It has gone from mostly ‘Bullish’ to more ‘Neutral’ Trend Indicators and therefore there is no decisive Trend in place yet on way or the other.
March 29 - Daily Level – Gold Nearest Futures
Indicator Description... Trend
Immediate Trend........... BULLISH
Short-Term Momentum....... NEUTRAL
Short-Term Trend.......... BEARISH
Intermediate Momentum..... NEUTRAL
Intermediate Trend........ BULLISH
Long-Term Trend........... BULLISH
Cyclical Strength.......... BULLISH
Broader Trend............. BULLISH
Long-Term Cyclical Trend….. BEARISH
April 20 - Daily Level – Gold Nearest Futures
Indicator Description... Trend
Immediate Trend ........... BULLISH
Short-Term Momentum ....... BULLISH
Short-Term Trend .......... - NEUTRAL -
Intermediate Momentum ..... - NEUTRAL -
Intermediate Trend ........ BULLISH
Long-Term Trend ........... - NEUTRAL -
Cyclical Strength.......... - NEUTRAL -
Broader Trend ............. BULLISH
Long-Term Cyclical Trend .. BULLISH
* * *
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Trading Based on Martin Armstrong’s “Socrates” Alerts
Regards from Mining Interactive Corp. in sunny and warm Vancouver, Canada
Nick L. Nicolaas
Direct: +1 (604) 657-4058
April 20, 2016