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PRS LIVE 5 UPDATE 3: DIE GOLD DIE!! BEARS LIVE FOREVER!!

PRESENTED WITH NO COMMENT. I GOT A REALLY BUSY WEEK. NOTHING ELSE FROM ME UNTIL SATURDAY.

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(if you've noticed at all, my regressions are more about when than about how much, so if it's already 1800 before wed u.s. open, that means it's going keep falling until wednesday night, have a good week guys)

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Last "no comment" comment: I got a lot riding personally on this one particular move through end of Wednesday, both financially and professionally. If I could recommend any of my calls since the beginning: THIS IS THE ONE.

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And it's still 1930 right now.

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DISCLAIMER: Past performance is not indicative of future blah blah. Be a big boy and put in a hard stop loss 1940 or something, and trail it going down. The reason I am at peace with this map is I don't have any more questions in my mind. It does not mean that it will perform as expected. However, I completely expect it to.

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All trade notes for PRS LIVE 5 will continue here.

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9:17 AM Really want to see this drop hard today to meet the curve. Will explain why in detail if I ever have time.

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9:33 RAISE SL TO 1928

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I realize it hit 1925, it would be instant re-entry.

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SO WHAT IS PIVO AGAIN?

I have a proprietary indicator (that I created) called PHAM INFINITE VOLUME OSCILLATOR. Imagine a VOLUME-MACD, only instead of 2 or even periods (ex: 3 and 10, 9 and 30, or whatever) I have 45 periods. So instead of a volume-macd, I have a volume "wave" which shows money in money out for specific periods separated by colors. Here is an example:

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Most charts I post for trade ideas do not show the PIVO below because it represents volume for that instrument only. Gold is a global asset traded through various instruments, but the "THE BIG 3" right now is futures front contract GC or GC1!, XAUSUSD (ICE/ICD), and GLD ETF. They are currently the main drivers of prices. There are MANY MANY more, but they represent a fraction of what these 3 represent individually. So if you use any one by itself to produce volume indicators, you are going to to many WTF occasions.

Historically, it was THE BIG 2, futures and spot. Since the March crash, GLD has been either the driver, or the kingmaker of gold's direction based on how much it gold it has added to its holdings blah blah.

With that, look at chart above. Left is 5 minute chart showing incoming volume. Scary if you short for short term right? No, If you look at 10 minute bars, looks like it's going to keep dying. Just not as fast as I'd like it to go.

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HERE IS 20 MIN BARS

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First,the colors below reflect the colors at the top, but the dashed line (0 line or h-line). So look at the action right now: the black wave is being rejected at the purple wave. If it can't break up, it will likely get smashed by downside momentum.

What do we know for sure: vs. Aug 9-11, the orange wave (longest) is weaker, the purple period is also weaker, the black wave is lower than the previous crash BUT NOT NECESSARILY WEAKER BC IT'S FLAT NOT FALLING. In order for it to fall, the red wave must break through going down (like it's doing right now to create a "volume waterfall).

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Here IS 40 MIN BARS:

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The real rejection happened YESTERDAY see?

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HERE IS 80 MIN BARS:

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HERE IS 160 MIN BARS

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Ok, that vertical line is 8 AM NY TIME ON FRIDAY. This black wave is unlikely to cross the purple wave before without some real fight. Why? Because on this time frame, the last time it go weak there was a breakout of 1818 running to 2075. Making this the first real attempt at a break down, first attempts are always retraced which ever way you are going.

So what am I expecting. Weak today. Very weak on Wednesday. Don't know about Thursday yet. But buyers usually show up BEFORE THAT VERTICAL LINE which is roughly U.S. open on Friday.

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DISCREPANCIES:

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Back to 5 min bars: Look at yesterday area where volume was water falling and yet price started rebounding. The buying is coming FROM SOMEWHERE ELSE.

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Good luck today!

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It is 11 AM right now CT. Expect a break down inside 3 hours.

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So have a look at 15 min bars again. We are in position where the dark gray and purple regression curves in price above will follow that route. This situation is a very strong r/r for shorts. See where the gray line crosses the vertical line representing Wednesday's NY close? If this follows through, price would be 65 pts below that cross.

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So 1785 is realistic.

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1:39 PM CT. So PRS is short 3 full size entries averaging under 1926. CHANGING STOPS FROM 1928 TO:

1928, 1929, 1930 FOR EACH OF THE 3 ENTRIES. LAST NOTE FOR THIS WEEK.

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2:51 PM 1229 HIT MOMENTS AGO, CURRENTLY 1928.5, SO REENTRY FOR THE TWO SL THAT WAS HIT. AND RAISE SL TO 1235.

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NOTE that doesnt change entry average bc exits were 1928 and 1929. Nothing has changed from a price regression pt of view.

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TYPO RAISED SL TO 1935, not 1235.

Really could have avoided all of this reentry business if kept a wider stop like 1938 the entirety of the time. I mean it's not even 1%. Anyway. I continue to expect any day forward. Now I am pushing into Thursday morning.

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