Hello Guys! Let's GOLD these markets.
My view point on gold is that it will drop before going up
- Double top and false breakout are seen however when entering look at the price action carefully when entering.
- There is an unfilled order which I expect price to come down and from there price could potentially move up or down
- I see it taking the liquidity from...
Gold is currently consolidating in the highlighted area before it plummets through the earth.. there is divergence across all time frames, and a lot of price rejection.
Gold usually follows the same patterns as oil so we can expect to see price reach an all time low ;)
Just wait to see if price breaks 1670.00 - then ride it all the way to the bottom
Gold currently loosley following a fractal from 2010...
At the current time it suggest a dip down to confirm the breakout from the bowl formed over the end of 2019
So short for some of February, then Long in say March onwards for next MAJOR leg up!
Currently (28/01/20) Targeting the W dip as per the white line and my previous published idea
The chart suggests that GOLD will regain upward momentum after hitting a well respected support zone (indicated in yellow) and possibly continue up to 1516.00 price points with the possibility to continue further into record highs.
However, due to golds volatility today the possibility of a breakout of this zone is looking more and more likely, which could be the...