Exploring my Gold, BTC, and NASDAQ idea

The Retest and Deviation Theory

"It's a concept that delves into the dynamics of price retests and deviations, shedding light on potential market behavior. Join me in uncovering the intricacies of this fascinating theory.

An intriguing observation, to say the least. While gold is currently leading in terms of price action and movement compared to BTC and NAS100USD (Nasdaq), it's fascinating to note that gold is actually lagging behind when we consider the technical aspects. BTC has reached its 'max pain' oversold point on smaller timeframes, leading to a parabolic move up and briefly touching its psychological resistance at 30k before a retracement for consolidation.

In contrast, gold has broken out of its mid-term consolidation pattern and hasn't exhibited any form of parabolic movement since its consolidation breakout. This also coincided with it reaching its 'max pain' psychological level. The correlation between these three assets is indeed a complex and dynamic interplay worth further exploration.

Delving into the concept behind this theory, it all begins with an exploration of smaller timeframe patterns. Gold andBTC, have recently broken out of their respective symmetrical triangles, setting the stage for the development of this intriguing theory. As they embark on their journeys post-breakout, they're currently exhibiting signs of deviation from smaller triangle setups positioned above the breakout areas.

The essence of this theory lies in the belief that, if the deviation continues as anticipated, it could pave the way for the formation of bullish wedge patterns. These wedge patterns, if all goes as planned, might position us favorably for tomorrow's trading sessions across these assets. Stay tuned for the unfolding dynamics of this exciting theory as we navigate the markets together.

Regarding NASDAQ, it's the only one that hasn't broken out of its triangle yet but remains near the top of its triangle range in a smaller timeframe falling wedge structure."

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BTC idea- Daily Chart

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BTC idea - 30Min Chart