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Precious Metals Dashboard ( 21- 04- 2021)


Rintel

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Better a picture than a 10page waffle

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Gold is now higher than it was a year ago.

Interesting analysis from the price model. What could this mean ? Correction ? Or a new trend ? Will need more data. Gold bulls have been getting involved since the big dip in March. Deflation as interest rates rollover by end of year ? Need more data. 

 905213624_Screenshot2021-04-21at14_35_14.png.d7f1661d443a99efa8750bc2f074a044.png

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    • To clarify my understanding. From my Usecase, I have three separate programs all operating interdependently from one another. A program to subscribe to tic data on a number of Epics via the LightStream API, another to grab historic on a number of Epics via the REST API, and finally another to manage positions via the REST API. I need to do this on my demo account initially to get API code stabilized. The IG website specifically says that I need separate API key for each distinct program connecting to IG over REST or LightStream. So in my understanding it looks like I need three API keys all for the demo account. Am I missing something or have I misunderstood how to use these API keys? I am aware of the API request limits and this is why I assumed you need a key per program. Currently I have one API key for the demo account and cannot seem to add more keys to the demo account? I have looked at the FAQ and cannot see an answer for my query.
    • Copper Elliott Wave Analysis - buy the dip strategy is ideal Function - Counter-trend Mode - Corrective Structure - Zigzag Position -Blue wave a of black wave Y Direction - Blue waves b-c of black wave Y Since October 2023, Copper has gained over 8%. Meanwhile, the Elliott wave perspective is looking at this commodity to continue the giant corrective structure it started in March 2022. Copper is expected to resume a strong rally once the current minor dip is subdued by the bullish flow again. But the questions are, where can traders and investors look for opportunities and how strong can the rally from October 2023 go into the future? Let’s dive into our commodity Elliott wave analysis that covers Copper. On the daily time frame chart, from March 2022, when the commodity was trading for nearly $5, we could identify the decline to 3.145 (July 2022 - a 38% decline in just 4 months) as a corrective wave. That fall was wild! However, the bullish response has been corrective and has taken over 1.5 years. As a result, we are forecasting a double zigzag blue wave ‘W-X-Y’ from 5.043 top. Wave W ended at 3.145 and wave X is subdividing into red wave (W)-(X)-(Y). Wave (W) closed at 4.3575 and (X) at 4.52 and (Y) is ongoing. Wave (Y), on its own, seems to be subdividing into black wave W-X-Y. We seemed to have completed wave W and X but Y is in the early stage. Thus, with Elliott wave theory, we have identified the position of the current price in the large scope of the last 2 years' price framework. Let’s head to the H4 chart to see where and how we can find a position. On the H4 time frame chart, after wave X ended, the price advanced in a 5-wave rally. Good response! With the current decline coming out corrective, we will anticipate at least the blue wave  ‘a-b-c’ of Y above the 4.00 medium level. Our focus will now be on how blue wave ‘b’ ends. The further decline for red wave (a)-(b)-(c) of blue b could continue to the 3.72 minor level which is also close to the 70.7% retracement of blue wave ‘a’. The setup will be invalid at 3.65 i.e. price below wave X. In summary, our forecast supports the recovery of Copper to continue further upside. Therefore the current dip is expected to be corrective and stay above 3.65. Buying interest is expected to surge from there.  Technical Analyst : Sanmi Adeagbo            
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