ES H12... Will it, won't it?..is it my eyes or is there an inverted h&S pattern in the 30 min TF? Plus Gold update (15.30 GMT)

 Here's ES H12 on the opening and bang on our d/sloping RL..will it make it up thru this line?

 

and another view /reaction line template showing support

Gold

Heres a beautiful little fork which is in play this afternoon BUT i don't expect too much from it except a small retracement. ....

 I think we all agree that this fork simply expresses three significant recent pivots.If that is the case then why are we not drawring these espressions the relationship and current frequency of price? Why would you use one fork all alone? What about the significance of these pivots shown below and marked with a '?'

These are just for starters and there would be more depending on your time frame, so how can we best express and illustrate the relationship of price withoutdrawing endless forks? Answer: find the controlling swing. the 'seed'

Here's the result. A matrix of reaction lines (reaction and warning lines as per Andrews but i refer to them generically as reaction lines) which mostly eminate from one single 'FNL' or 'Andrews' fork drawn off the most recent controlling swing. This fork of course will have to change as price weaves it's merry dancebut if you get it right the results can be amazing. If you want to know how I ID this and other 'controlling swings' and what different forks I use to caputre price then take a free trial-no strings- no hype- no money and get just facts and examples you can see working for yourself every day. Then follow my trades which are transparently published.

 

Long Corn (H13) and short ES H13 ( filling the recent Fiscal Gap) plus the Russell 2000 emini (TF)and taking a closer look at Coffee (KC K13)

Long position trade at 683-00 stp 677-00

Wheat below

 

Emini YM H13

( Grey fork P0-12871 2/May2011,P1-10327 4 sep 11,P2 13650 14 Sep 2012)

  and ES below ( showing short swing trade position)

 Coffee. oversold and due to bounce? The last ICO report and current fundamentals simply dont add up to me

One Andrews fork and one FNL fork.

FNL reaction lines added

The detail

Lastly, Emini Russell 2000
look at the dark grey historical Mod Schiff fork with a horizontal attitude.

Heres the dark grey UMLP

You must understand this Median/Reaction line location issue above all- and its found on all charting platforms in one form or another. This example Euro Stoxx 50

If you read this blog or my site regularly (and people do!) you will see me write regularly about line location or shared line location or co-location or under the heading ' Where is the true location of a line' etc etc.
Of course when I say line i mean Median or Reaction and usually the latter but it would be the same for a simple trend line.
Here is what i am talking about using the Eur Stoxx 50 March 2013 contract CFD chart on MT4.

The weekly, daily,and 240 min charts: One large simple fork shown in black ( forget the other lines). It shows price within a whisker of the centre line in all three charts below. OK?

 Now below heres the 60 min or 1 hr

30 min below

Now the 15 min below

Now I am going to manually add over the lines visible in 60,30 & 15 min charts and here are the super imposed lines displayed in various time frames

 Now there is still no CL touch except in the 30 and 60 min charts (and the CL failure rule still applies)  but not only has the location of the black CL in the 60 and 30 min chart shown effective correlation with price but also so will ( when touched) the 240 min and daily locations. The 15 and 240 min charts ( in this case) share roughly the same location 2719 and 2723 respectively.
This problem (and it is a problem) is present on all platforms i have used. Televent( Prophet), MT4 &5, Esignal and Ensign windows. Question: How can a line have more than one location in multipel time frames and is this purely to do with our system of data presentation ( here jap candles and simple auto scaling of X and Y axis) of which the market has no concept of ?

GOLD, Loosing it's shine? $1200 bucks beckons for 2013!!

Jim Rickards...  Gold to 16,000 bucks & a return to the gold standard? Should this man be certified (medically speaking?) and who keeps giving these people a continious platform to expound such continious and consistant nonsense? ( Answer: CNBC)

 On a more serious note take a look at the charts below:
1. look at the monthly chart and topping out pattern
2. Recent price behaviour since the all time high
3. The current indicator patterns of the ribbons ( short stochastics) which are in 'waterfall' mode.
4.The use of contrary sentiment.
Please view the background to my arguement here

This fork simply expresses the relationship of the three pivots it is derived from. It's reaction lines are also an expression of that frequency. This is one of the most important forks as they are three of the most critical pivots

 Look at the difference between the location of the recent high pivot. In the chart above it appears above the black LMLP and yet when we drop doen to any lower time frame it's a perfect retouch on the underside of the black lower median line parallel.

 and in more detail below

 Another template study reveals more organic support and resistance.

 yet again the scaling reveals line locations change as do (obviously) the angles of each and every line.

http://medianlinetrader.blogspot.fr/2012/12/gold-2000-dead-cert-no-quite-opposite.html?goback=.gde_68663_member_196185813

LINK:http://www.linkedin.com/groupAnswers?viewQuestionAndAnswers=&discussionID=196185813&gid=68663&commentID=109752111&trk=view_disc&ut=2H2w6i1XYWbBA1

This site below should carry a US Government Health warning....you have been warned enter at your own peril:
 http://jimrickards.blogspot.com

Taking stock with the Equity Indices after the Fiscal bluff

 Rally looks set to continue, this could be the signal for a general pick up in equities in 2013 as bonds and other asset classes simply start to look tired. However we have 6 weeks before another round of "call my bluff"!!.Surely whats been acheived doesnt warrent a slap on the back and congratulations all round ie 50 big points on the ES? Nothing has really been dealt with and the fiscal issue looks now similar to Europes problem where by politicians kick the can down the road and put off difficult choices. Who once said "you cant please all of the people all of the time". Whats needed is leadership and the understanding that this is an economic problem rather than a political one however a problem that will have a political resolution.However I have long learned never to under estimate the power of positive sentiment in equity markets so this must go higher and technically speaking the candles/bars must break higher still.

Euro stoxx50

DJII

 CAC 40

For further information  please refer to the studies on this site
 http://www.commodity-analysis.co.uk/Daily_Chart_&_comment.html