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Support and Resistance Zones for Gold and Oil
Support and Resistance PowerZones for the Russell 2000 (TF Dec), Nymex Crude (CL Dec) and Comex Gold (GC Dec). These zones are created by combining multiple support and resistance methods including Volume Profile, Elliott Wave, Fibonacci, Pivot Points, Trend lines and Market Profile amongst others.
The Support and Resistance PowerZones are focused on one thing…Confluence. In the same way that a rope is made up of multiple strands for strength; the Pivotfarm Confluence PowerZones are made up of the confluence of multiple Support and Resistance methodologies including:
Market Profile (TPO)
Volume Profile
Elliot Wave
Calculated Pivots
Open Gaps
Naked VPOCs
VWAP
OHLC
Bank Flow (Rumours of order placement by banks)
Trendlines
Fibonacci Retracements/Extensions & Clusters
Intraday/Prior day/week/month swing highs and lows
Moving Averages
The depth of analysis and confluence required to form the PowerZones puts the probability of price stopping and reversing heavily on our side. For example if there was a PowerZone (Gold) with a Volume Profile peak at 1325.60 an Elliot Wave ending at 1325.70, a Fibonacci cluster from 1325.60-1325.70 and also a prior day high at 1325.60. What do you think are the chances of price stopping and reversing here? The answer is very high! One of the main reasons is visibility; this PowerZone is combining methods used by at least 4 different groups of traders. There are more eyes on this area and thus it is likely to be a significantly liquid and highly probable area for price reversal.
A Statistical Edge
If combining all these methods into a Support and Resistance soup wasn’t enough we go one huge step further. A great deal of our research time is spent in statistical back testing, to help us gauge which methods to give more weight to at any given point in time. Say the market is in a trending phase our statistical testing may indicate that Volume Profile levels tend to outperform other methods. During this phase the Volume Profile Support and Resistance method will have more weight in our analysis. We pay more attention to some methodologies than others, based upon the short, medium and long term performance statistics of that method in specific market environments.
The Support and Resistance PowerZones are based upon the confluence of multiple high probability methods. We then combine these methods with thorough statistical analysis to create Support and Resistance levels that are consistently evolving with the market environment.
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This is totally retarded. I'm not even sure what the conclusion is here. It seems to be saying that Gold is likely to correct down to the 1287 range, but with no timeframe.
I think it's time to put a better filter on the guest posts before ZH drowns in garbage.
Yes, but how do you use them?
If this morning gold is at 1,338 - what does your data mean?
How am I to use it to my advantage?
Give me an example.
Thanks!
TA has become increasingly useless, especially since around Aug. 24. Trying to chart into new premises with the old is GIGO. New wine requires new skin.
How do they weight the effects of intervention by the Fed, bullion banks, et al, to their magic charts?
Per Mr. Farm --
...Pivotfarm Confluence PowerZones are made up of the confluence of multiple Support and Resistance methodologies including:
Market Profile (TPO)
Volume Profile
Elliot Wave
Calculated Pivots
Open Gaps
Naked VPOCs
VWAP
OHLC
Bank Flow (Rumours of order placement by banks)
Trendlines
Fibonacci Retracements/Extensions & Clusters
Intraday/Prior day/week/month swing highs and lows
Moving Averages
...
-- my guess is that those touchy-feely factors get be lumped under "Rumours."
Classic Pivot Farm.
Seriously, this has Kevin Trudeau written all over it. You should include this stuff with a diet program, nutritional supplements, reading/memory improvement courses, addiction breaking strategies and a how to flip property with no money down course for a Holisitc Self-Improvement Masterpiece.
I can just see Pivot Farm at one of his Seminars, doing the stage with his Anthony Robbins, hands-free micro-phone...talking about Awkening the Giant Winthin with his various trademarks... PowerZones(TM), and Confluence(TM) and Support and Resistance Soup(TM).
"Several years ago, I was fat, unemployed and living in my step-mother's basement. Then, I had an awakeing; I tapped my inner genius...My own Personal Power(TM). You, too, can make your dreams come true if you follow my Power Zone Program of Personal Trading Power!"
If Pivot Farm used a GPS they would not need bother adding useless columns of figures.
My crystal ball works as well as their crap...but I have no doubt that some fool will buy their 'service'.
Interesting. But were the numbers manually typed into a chart for presentation?
The 83.56 should be 82.56
For gold anyway, it's the manipulation, dickhead.
wow, this is beyond useless.
You read my mind!