GOLD - WHAT IS THE DEAL WITH NOVEMBER?

Diupdate
Gold has entered the pivot zone. The hard metal is always a hold to me personally, but it helps to study the charts to get an idea of the algorithmic driving forces and other oddities. In this case, I couldn't help but see this Nov Nov Nov trend and the math behind the madness. The pattern suggests it'll be supportive. Watch it closely the next few weeks. We need to see strength come in to confirm support and upward continuation. Do not dismiss the possibility of a deeper correction.. There's no such thing as "impossible" when in comes to financial assets.. especially in 2020-after all, we did see oil trade MINUS $37 this year. Keep an open mind while in wonderland.
Catatan
I've shared this in another post but it was under xauusd and not 'gold' so it didn't show in the ideas stream but take note of the 12345 possible waves up as well as the sine wave in these price cycles. These two ideas could help support the idea of this zone being supportive and rallying from here. AGAIN, and this is the important part, there's no guarantee. The best technical analysis is looking at what has happened. It can help predict but it's a little bit like being a weather man. cuplikan
Catatan
the metals need to make a VERY STRONG move very soon to confirm support in this zone. My wavetrend indicator at the bottom is slightly below the trend so this weekly candle close (tomorrow) needs to be a big move to confirm upward trend. If not, it may confirm lower prices. Pivotal pivotal pivotal time here cuplikan
Catatan
This is an important update. This is my renko chart on gold where I study price cycles to get a better picture of gold's inhale & exhale. All assets have a heartbeat.. they all inhale & exhale. There are many factors that determine these cycles but it just happens.. even with QE infinity. Take note of the purple boxes in price and then on the decision point momentum indicator. These are cycle lows. It's odd to me that this cycle low was so late. It could indicate weakness and point to a 'dribbling' down of price with a downtrend coming. OR IT COULD BE STRENGTH.. and coiling energy. If gold is going to move up, it looks likely to spring up incredibly strong to continue the next cycle up. HERE WE GO! Gold & silver are the one asset I'm thrilled to see lower cuplikan
Catatan
it's been good to see gold bounce here. I hold the real metals (gold, silver, lead.. and a few others) and have a little fun trading the price swings for profitable return in fiat currency.. where I hope to then convert back to more physical :P

A little red flag to watch here-It's possible it means nothing- gold can still spike massively, but I cannot ignore it either. This support broke at the close of last week's candle. I want to watch this zone closely over the next couple of weeks to determine if this is now resistance. Gold can make a new high and still be under this resistance on the stoch/rsi indicator. So it's entirely possible we see a giant move up to new highs and then a slow, sideways, boring... consolidation before building more strength for years to come. I'll update what I see cuplikan
Catatan
I've been a little surprised to see the metals creep & crawl. I really thought they would move sooner. Next month or two are important.. this chart (green box) slightly concerns me as it looks like it's now resistance. I don't want to dismiss a deflationary move in assets across the board should the dollar gain strength. Be on guard cuplikan
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