Gold is about to break Multi Year ATH. Interesting Correlation!!
As we see in this correlation between GOLD and SPX500. Whenever GOLD starts it's rally and breakouts from bear market it acts liquidity magnet and it eventually starts a bear market for stocks for many years. i think we are on the horizon for this shift in winds.
As you can see Above Gold is holding the weekly order block strongly and close above red line will trigger a bullish trend.
In this chart you can see GOLD closing 3 consecutive 6 month candle above 2012 higher candle close.
I thinks people who are investing in stocks should reconsider to do some portfolio management. Selling risk on asset in first step because we are really near to good breakout on gold. Also looking at the current mania in Crypto market, stocks market and ipo sector
As you can see above, there are tons of bear divergence on monthly time frame. These divergence doesn't end well, as it can be seen working in past years.
Above is AMZN chart. This stock is in clear distribution stage, making and ascending channel and the target is marked on the chart. Also the 6 Month candle will most probably close as red distribution doji which will decide direction next year.
In 2019 i had few assets on watchlist for a potential short and among them BA was the cleanest short setup of a multi months descending triangle (which is a bearish distribution pattern) which was matured in late 2019 when i took this setup.
Also the above chart showing BA yearly candle chart added confirmation to bias for a swing short. i never thought that it will be triggered by pandemic like COVID-19.
At same time i shorted 2 more assets class which was OIL and BTC (and many other crypto assets in march).
This article might seems like Perma Bear whining. But i'm a Bullish Trader who like to trade bull market only this time i'm just trying being cautious and warn my fellow traders for possible correction.
As you can see Above Gold is holding the weekly order block strongly and close above red line will trigger a bullish trend.
In this chart you can see GOLD closing 3 consecutive 6 month candle above 2012 higher candle close.
I thinks people who are investing in stocks should reconsider to do some portfolio management. Selling risk on asset in first step because we are really near to good breakout on gold. Also looking at the current mania in Crypto market, stocks market and ipo sector
As you can see above, there are tons of bear divergence on monthly time frame. These divergence doesn't end well, as it can be seen working in past years.
Above is AMZN chart. This stock is in clear distribution stage, making and ascending channel and the target is marked on the chart. Also the 6 Month candle will most probably close as red distribution doji which will decide direction next year.
In 2019 i had few assets on watchlist for a potential short and among them BA was the cleanest short setup of a multi months descending triangle (which is a bearish distribution pattern) which was matured in late 2019 when i took this setup.
Also the above chart showing BA yearly candle chart added confirmation to bias for a swing short. i never thought that it will be triggered by pandemic like COVID-19.
At same time i shorted 2 more assets class which was OIL and BTC (and many other crypto assets in march).
This article might seems like Perma Bear whining. But i'm a Bullish Trader who like to trade bull market only this time i'm just trying being cautious and warn my fellow traders for possible correction.