The homepage features a mini drill: gold futures, January 2020 to December 2024, one question — where is the Composite Man accumulating? This post documents where the data comes from and what the fact-check turned up.
The data base is daily candles (Yahoo Finance, GC=F), aggregated to weekly closes. The volume profile is computed across the accumulation phase using $25 bins. Click through the accumulation phase by phase — zone, point of control, sweep, breakout:
Scroll or tap the phases.
The chart shows the accumulation zone as a golden band below the range high.
Phase 1 · Structure
Four years below the high
The market fails at the high three times — but it doesn't drop. Where supply is absorbed rather than accepted, someone is accumulating.
Phase 2 · Volume
The center gives it away
The volume profile builds its center at around $1,790 — that is where inventory changes hands, not at the high.
Phase 3 · Liquidity
The sweep takes the stops
Three tests fail, then the December sweep shoots above the high — only to grab the liquidity above it and revert.
Phase 4 · Markup
Only now the real breakout
In March the price breaks out, holds the level, and runs to $2,741. If you read the range as the cause, you didn't have to chase the breakout.
Three findings carry the case:
First: The range high around $2,075 is tested three times — in August 2020, in March 2022, and in May 2023. Each test fails, but each test sits higher in the volume: the battle is shifting upward.
Second: The point of control (POC) of the entire phase sits at roughly $1,790 — in the lower third of the range. That is where the position was built, not at the high.
Third: In December 2023 the market briefly runs above the range high (daily high $2,130) and falls back — a sweep that collects the liquidity above the level. The sustained breakout follows only in March 2024. After that, the markup runs without a return into the range, up to $2,741 in October (weekly close).
The lesson is uncomfortable for anyone who chases breakouts: the cause of the move sat visibly in the range for four years. Whoever could read it only had to manage the breakout.
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