GOLD bears are getting tired of loosing
As you can see in this chart, the GOLD bears had a very hard time in the last months even though those are cyclically the weakest months for GOLD.
Now that the cyclical bullish months have started and bears are getting tired of loosing money, I expect some heavy upward potential.
I have seen posts lately claiming that GOLD broke the downtrend which started in 2011. This is not the case if you ask me. I'll show you why. Some charts seem to show different results if you draw this trendline, but of course I only trust the charts that I have been using the past 5 years...
Here you can clearly see that the downtrend is not broken at all. GOLD is still below the trendline
I expect a retest of 1337$ ( I love this number :D ) coming soon...
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If you think this to be useful information:
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way i see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
Pretty L33T bro
According to my charts the gold down trend is broken. This is why i think the price has been rising rapidly over the past few days.
This is not a very rapid rise in gold. If you look at past waves 3, then you will find gold rising 30$ and more in one day.
Yes, I know that some charts suggest a broken downtrend. If you are right gold should explode in the next month. If I am right it will see a steady rise with some corrections.
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Thank you very much ;-)
Thanks for the info , for someone who has had gold stored somewhere and losing money its good to see some postive ish results coming up
I don't like physical gold as an investment because the waves suggest that it could go down to 500$ in the coming decade before exploding in value. There are alternate counts but it looks very plausible.
I have some physical gold as an emergency reserve stored, too. Trumpel might hit the wrong button or something else could start a market crash completely devaluing the euro and dollar... It is good to have some emergency reserve...
Have a nice day too bro
The trend line depends on if the person is using a log scale vs linear.
nope, mine is linear too. log charts are just stupid for trading
Nice post. I've also been writing about this subject. I'm now following, please follow back if you'd like.
Planning to buy gold and reduce cash I am holding.
I tripled my money buying ETH, just own some small gold accounts now.
eth looks like a classic bulltrap. I aint buying that until it goes way down or way up...
Maybe cause you dont know what BLOCKCHAIN ist and how ETHEREUM works? Investing in FIAT is a bulltrap since launch ... just a hint ;)
I like ETH, it is just that the waves suggest a big drop to 45$.
The bulltrap won't be invalidated until 388$. Just a warning ;-) I might make a new post about ETH soon.
Waiting for that! I feel exactly same, wanna know what's Your point
i will make a post about it next week I think
i buyed on 12$ ... still no loss for me smile
Then you are one of the lucky few. Should have bought more :D
😲
@ew-and-patterns got you a $1.82 @minnowbooster upgoat, nice! (Image: pixabay.com)
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