 Over to our mam is to Steve Rose as you do each and every Monday at 20 past the hour and don't forget folks Steve does an outstanding show here every Trading day 11 10 11 to 12 Easter stand-to-time also is a great newsletter mastering probability Now it's very easy to get Steve's newsletter folks come over to our website at TFNN You're gonna go into newsletters. You'll see it right on the right-hand side. You can get mastering probability for one month for $149 you can get it for six months for $695 which is the savings of $199 or 22% and you get it for one full year for 11 95 Which is the savings of $593 a 33% now when you get that you're gonna get a lot more than a newsletter You're gonna get a newsletter You're gonna get all the graphs and charts that send out Steve sends out every single morning And you got to get a bunch of archives so you can understand how Steve looks at the market and trades this market each and every Trading day Steve Rhodes. What's going on? The madness of March is what's going on. Oh, I know I know who could I wonder what the odds are or were of San Diego State FAU University of Miami you can't getting through that was kind of that's kind of normal But for those other three schools to make it into the final four the odds have got to be just Yeah, and you know that you know this gets interesting to folks and Steve This is where this whole pay deal where yes, you know has it has it on and guess what folks This is why Florida is booming also if you saw there's two schools in Florida, okay out of the four The bottom line is that people down here the alumni down here are out of their mind meaning in a great way, okay? So absolutely in the FAU alumni really, you know for kind of one of Florida's smaller large schools out there I mean they're big time into it. That's right And and you know you and I know this but folks a small college in Florida is a monster school 40,000 people right a small small college is 30 40,000 students You know when I first saw it and then you know, I got to catch that Charles Buckley interview last night and You know You know, he says it like it is easy. He can't stand it. You know, I'm not I don't agree with them I think they should get paid but the bottom line is that you know, he said hey listen, man It's very evident. He says that's it He says they can move that quick and he says and people weren't expecting You know what they what they got so fast and it's wild. Oh, isn't it man? Yeah The beautiful thing is I get to go down the street now. I'm gonna go watch the FAU team play that's next season I know how cool is that you just go catch a game. Yeah, right down there. So yeah, it's gonna be gonna be interesting Oh coming up this next weekend in and then the final game. Oh, yeah, so I thought we would do today time I know you were talking about gold earlier. I just caught just a very little bit of yes I thought we would do is it just start with a blank monthly chart for gold for folks And maybe kind of walk them through some of the tools That I that I share and that we utilize that utilize to help understand the market So let's start decorating this monthly chart and the first decoration or one of the first patterns that I have applied here Is the monthly horizontal trading ranges now? This is a tool that was talked to us by bud Rolfs again Tom Thank you for bringing you know by to us and what he did or what I'm doing here on this charts Is we are looking for the for the for the data that I've got so this takes me back to 2002 So we get back from 2002 to where we're at today. Yeah, what this tool does is this identifies the largest Number of co-located opens or closes in other words It doesn't matter whether it's an opener or close But it needs to be either an opener or close of a candle and what it does it seeks out the largest quantity Largest number largest number is 21 closes and that exists near the $1318 level the next largest number is at 1181. It's not exactly 1181, but it's very close to it Okay, 14 closes there what that does Tom is that sets up 137 point range And once we have that all the different sequences that we see here these lines are all 137 points apart from each other Right. Here's what we know what we know is the 2004 level is a significant resistance area That's where price got up to this month. I Again, I think you were talking about price getting back up to that area 2005 Maybe something like that But this is a key resistance level that if price can close above on a monthly timeframe the month is not over obviously That would be a bullish outcome. Otherwise, that's a key level of resistance. That's the horizontal trading range A second set of patterns that we can put up here And this ties into your thought process about maybe a pullback and then we move higher out here The second set of patterns is these TAS market profiles now We're looking to the same monthly chart just decorated with a different tool What we can see here is that price is trading above resistance. That's at 1849. So gold certainly on a monthly basis I have to say when you trade above resistance is bullish. So that's the monthly time frame That's what this tool shows us another Thing we can take a look at it just simple trend lines of people can draw on there I've got one at the top one at the bottom another set of lines that we can identify is a price channels So here I've drawn in a longer term a price channel again We're still looking at the same chart monthly chart here for gold at that that right? Yeah Once price breaks out if I price channel just like we did the horizontal ones Tom Once price breaks out of a rising or descending price channel we can add same distance So we're doing the exact same thing as we did horizontally as we would Diagonally is we just add that that that value that distance and here I've drawn that in and we can see that price still is above those channel line So if I draw the exact same distance again, whoops look at where price stopped when we got up to the highs in 2011 yeah again just using the the trend line So we know that these are another important tool to help us understand what the market is doing We're looking at the bigger picture here. This iteration shows a rising price channel Inside a larger set of price channels up there. So those are the green diagonal lines Now what's not shown here very clearly. It's kind of faint is that the actual high that we saw this month Stopped right at that mid line of this little green rising price channel. So again resistance resistance Resistance with regard to these channel lines that we're taking a look at this is the fully decorated chart And so on the fully decorated chart we get back to the 2004 area. That's resistance both the horizontal and the diagonal Price channel resistance and from a support standpoint. I would come back to about the 1729 area That's the horizontal trading range boundary line That's below where we're at right now above, you know below the 1860 level and is the center of a profile and runs Right into another rising price channel. So on that pullback that you're anticipating 1729 would be an area that I would be watching. It's not that price can't get below that But that would most certainly be a very logical area for all of us to watch now last week And I think you did mention maybe it was Larry But the last week marked four consecutive higher weekly gold closes what I have on this chart So this tool Tom looks at consecutive higher closes or consecutive lower closes Beyond just one close and what you can see out here up at the highs look at how often we see four Consecutive weekly moves. They're not all four consecutive weekly moves But once we get to that fourth consecutive weekly move we typically see a move below or so this supports your idea of Gold pulling back and we should pull back for two to four weeks No, I don't recall you might have been talking months I don't know Tom, but you know, I'm not just on the weekly charts only have the weekly to take You know, but a pullback for two to four weeks absolutely makes sense We just follow just the normal pattern that we have out here But if gold is gonna move lower it needs to close below this daily number here So this is what people can track watch 1947 or there about that's my oscillator and change line Gold needs to close below that on a daily time frame to really support this idea of a further pullback So that's utilizing tread lines channel lines And again all that stuff is taught with inside the mastering probability newsletter great job Steve great job And listen folks, it's you know, you just saw what we you know, Steve went through it's clear like really clear I think so, you know, it is it is man Get over the hot website at TFNN. You're gonna see newsletters You're gonna see Steve's newsletter right on the right-hand side mastering probability hit that button folks the bottom line 29 days. It's free. You want to have the 30 days? Okay? No problem Also, have a great one Steve have a safe one look forward to show tomorrow. Thanks. Thank you Stay right there folks who come right back