Gold

(GCZ24) 
December

The ONE44 short term target is the 2775.40 major Gann square, as you can see on the chart the major Gann squares have a big impact on where the market has found support and resistance. The highs on, 4/12/24, 5/20/24, 7/17/24, 8/2/24 and 9/26/24 all hit major Gann squares where the markets had good reactions to them. You can also see on the chart all the lows that held major Gann squares. However the most important things to watch when the market has a trend are the Fibonacci retracements with the ONE44 rules and Guidelines.

On the setback from the 2706.50 major Gann square on 9/26/24 this is what we said to lookout for,

10/12/24

This week's high hit the short term target at the 2706.50 major Gann square.
Use 2706.50 as the DSP for the week.
Above it the short term target is the 2775.40 major Gann square. The long term target remains at 2841.50.
The key area to look for on a setback from here is 2578.40 to 2560.00, this is a major Gann square, 38.2% back to the 6/10/24 low and 23.6% back to the October 2023 low.
Any setback that holds 23.6% back to the 6/10/24 low at 2625.00 is extremely positive and new highs should quickly follow.

The new highs indeed did quickly follow after holding 23.6% at 2625.00.
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This is our latest update from 10/20/24

(GCZ24) 

From last week,

The setback from the 2706.50 major Gann square on 9/26/24 has now traded below the 2639.40 major Gann square and held 23.6% at 2625.00 and a quick rally followed.
Use 2625.00 as the DSP for the week.
Above it, the short term target is the 2775.40 major Gann square. The long term target remains at 2841.50. You will also have to watch 78.6% back to the 9/26/24 high at 2692.00, a failure to make a new high in this area can cause a sharp selloff.

The previous week's low held 23.6% at 2625.00, we know that when following the ONE44 23.6% rule,

Extremely strong/weak markets will only go back 23.6%. This is Typically a runaway market.

 When there are extended runs in the market it is always best to watch 23.6% to see just how strong or weak the market is. This retracement level is not for small ranges. This retracement should be from the lowest low/highest high of the current run to be most effective.

The rally this week took it right through 78.6% where a lot of Bull runs start and end and onto a new ATH and it closed above the 2706.50 major Gann square.
 

Use 2706.50 as the swing point for the week.
 

Above it, the short term target is the 2775.40 major Gann square, when and if it closes above here it will become the swing point for the week.. The long term target remains at 2841.50.
 

Below it, look for the area of 23.6% back to the 6/10/24 low at 2648.00 and the 2639.40 major Gann square, holding this area keeps the trend extremely positive and new highs can quickly follow. The next area of support is 38.2% of the same move at 2591.00 and the 2578.40 major Gann square. The key levels of support on an extended move lower are 23.6% back to the October 2023 low at 2550.00 and then 38.2% at 2435.00.

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We have done 43 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets.

This is the latest.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.
 

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