==> There is a fairly unknown dominant seasonal pattern/conspicuity which offers important intermediate gold highs for the Labor Day trading week:

2011: day after the Labor Day gold made its ATH and started a -300$ plunge.

2012: gold moved higher at the beginning of September and shortly thereafter formed the key top – the one that started the biggest decline of the past decades.

2013: right after the Labor Day gold started a 200$+ decline.

2014: gold’s decline was underway, but still declined over $100 after the Labor Day.

2016: day after the Labor Day gold started a 3 wave -200$ correction. Final low of this correction is printed 15th of December 2016.

2017: 3 trading days after Labor Day final top of 2017 is printed. Afterwards it corrected in 5 waves far into December. Within this correction cycle it declined -124$ max.

 

 

Current status for possible underway 2019 Labor Day pattern is as follows:

Two trading days after September 2 Labor Day gold future (GC #) printed this year high at 1566.2$ and started a down wave which lost -55.3$ max. into Friday.

Another important hint for the tipping point again fires the time factor. The bull run which began at # 1 // August 2018 Low is now precisiely 1 full year old. Or, runs for 56 week candles, what is of course near or precisely at possible PRIME 55 Fib number ==> 56-1=55 Fib number.

Since the story rarely repeats exactly but often rhymes, it may well be the case that we have even experienced the final high of this important bull market upleg at 1566.2$. As with the 2017 Labor Day conspicuity, wherein gold corrected hard and long into December 2017 after it`s final year high... in 2016 gold also corrected for 4 long months after Labor Day highs.

We all remember the important bear market low of 2015 which is also printed during the month of December. Thus, there is also the very important conspicuousness that the yellow metal likes to print important cycle lows in course of December.

Ergo – according time factor - the metal might decline/correct/pullback towards December!

If we additionally watch the never seen overbought weekly MACD reading and the weekly Slow Stokes which crossed to sell mode, it would have to pullback at least throughout September/early-October if it only wants to reduce its massively overbought weekly momentum only minimally and:

==> HAS TO TEST 1430$ - 1410$ YEARLY SUPPORT NEST, which is best seen in the monthly chart and gold has encountered long-term resistance at 2019 highs:  

 

 

Past month August 2019 candle precisely closed shy below the 1*2 Gann Angle which represents the very last important main resistance that springs directly from the 2011 Labor Day alltime-high (ATH) where the Labor Day seasonal pattern for the first time ever could be observed.

The conspicuousness that is observed only in the current DECADE.

August close is highest monthly bull market close of 2019 and is at 1529.4$ and has met usually strong important Gann Angle out of ATH from below. Aug19 close is seen at resistance on life-time base, so this close is natural coming buy/sell trigger and the very first monthly close above ATH 1*2 Resistance Angle will be the next sustainable major bull market buy signal.

So far, the ATH 1*2 Angle has a negative impact on the price. As it should normally be and should be expected at the very first test of such an important ATH resistance rail... is perhaps the most prominent ATH resistance which could nail the final high of entire 2019.

==> Gold should at least pullback next cause of still holding ATH resistance and usually has to test back this extremely unusually strong, important support running between 1430$ and 1410$.

1430$ - 1410$ yearly support nest = 2019 CONCRETE SUPPORT MAGNET ==> ideal Sep/Oct19 pullback area is formed by:

2015 Bear Low 1*1 Support Angle: This is strongest natural bull market support. A rising main support on yearly and DECADE base. Always most ideal pullback magnet.

ATH Support Angle: Month high resistance for July 2019, finally overcome on monthly closing base by Aug19 close. Natural pullback/backtest target of prior important ATH resistance, now falling future important support rail out of ATH.

1422$: A natural GUNNER24 Horizontal out of ATH. Other important ones in the proven 100$ steps are: 1522$/1322$/1222$. Esp. 1322$ and 1222$ have been very important magnets within last bear. 1422$ is now finally overcome in course of 2019, thus this always important magnet is another ideal pullback downmagnet and adds to concrete support nest at 1430$-1410$.

Then there additionally is important Fibonacci Support nest on yearly base existing at/between 1430$ and 1410$:

A) 25% Fib retracement support at 1436$ of August 2018 to 2019 Top rally.

B) 38.2% Fib retracement support at 1413.7$ of 2015 Bear Market Low to 2019 Top leg.

Usually these Fib relations are always reached within a first pullback wave after an intermediate top.

Strongest existing GUNNER24 Support Magnet for the rest of 2019 is when the 1422$ horizontal unites with 2015 Bear Low 1*1 Support Angle for the October 2019 candle.

==> 1422$ test is activated GUNNER24 Downtarget because the Labour Day trading week was not able to defend the BIG & important 1522$ on weekly closing base!

For your coming (pullback?!_correction??) trading activities in gold you should mainly use this two weekly up setups: 

 

 

First important valid weekly up setup is a 10 Candle which starts at # 1 //August 2018 Low, there where the 1-year rally started.

Watch that price this week met time at natural 5th double arc main target. 55 Fib number and 56-1=55 have met 5th main uptarget (...original resistance...) And whenever price meets time or time kisses price a change in trend is imminent.

Well, usually price should test back at least 4th double arc in course of the coming weeks. Aka dark-red dotted arrows. The 4th double arc has morphed to nearest and strong double arc support environment and could offer weeklong future main support.

At least 4th is always ideal pullback target = backtest main target. An usually very low risk short is given when in the course of next 5 to 8 days the classic re-test of 5th double arc occures.

==> Cause we observe two spike highs in a row and thus time (# 55 & # 56) wasn`t strong enough for delivering a close above the 5th double arc, instead gold closed below the 5th main target, the 5th environment should be actual and future 2019 main resistance until broken to the upside on weekly closing base.

==> The above setup I`ve named „1-year up cycle setup". Why? Reason is that the bull market likely topped on intermediate base after exactly 1 trading year at weekly GUNNER24 Double Arc resistance upmagnet...

This next 12 Candle up on weekly base actually depicts entire multi-year bull market advance best, if I observe the 2019 rally course til today.

It starts measuring at the bear market low of 2015 and original Blue Arc resistance nails the end of initial 12 week bull market upwave, so it is much more important in terms of coming signals, signal strenght, perhaps important supports, resistances, magnets etc. than the obove shown just 1 year old metronome:

 

 

As you recognize also this setup implies that price has met time at 2019 highs as gold found 4th natural uptarget out of # 1 // 2015 Bear Market Low to first bull market wave top # 12.

==> Two seperate weekly GUNNER24 Up Setups at same time signal intermediate highs very likely finally in and gold is in at least the next weekly pullback cycle.

This 12 week up offers that a down cycle starting at 4th double arc and 2019 highs could last very long and can be quite deep according price cause in the past the last time the price reached a light-green double arc area – the 2nd double arc uptarget – first a major top was harvested and second a 8-month long, very bearish downtrend was released.

The at 2019 High likely started down cycle usually has to run for 2, maybe even 3 monthly candles = up to 15 weeks candles in the very worst case before then the next important higher bull market low should be printed.

But would actually have to last much shorter because the bull market presented itself so strong on any important time frame. Means, the odd is that gold next just wants to deliver a relative mild pullback cycle according price and time that could last into perhaps early-October.

Setup above offers that the naturally anchorable „Target Support Angle" is very attractive and perhaps necessary target for an expected pullback cycle. Usually this Gann Angle rail = Gann Angle downmagnet is most attractive backtest target out of 2015 Bear Market Low cause Target Support Angle delivered strong cycle low support at intermediate higher Dec17 low, was 1-month main support before dropped finally in course of Jun18 and was monthlong rising resistance on weekly closing base in course of 2019 uptrend year.

Target Support Angle should act as overall rising main support on yearly base, adds support to the yearly 1430$-1430$ CONCRETE SUPPORT NEST, that is calculated for the months of September to October 2019, and might be the responsible trigger for the next intermediate cycle low if you want to make a long-decision with the help of above anchored overall bull market up setup!

 

You best register with our GUNNER24 Gold Trader now. That’s where we oversee the optimal entries and exits for you. Especially in the difficult market situations where many factors have to be considered the Gold Trader is backed by the additional GUNNER24 Signals based on the combined 1, 4 and 8 hour setups to catch the optimum entries and exits.

 

 

Be prepared!

 

Eduard Altmann