GOLD, Moving In The Decisive Triangle-Formation!

Hi my friends,

Welcome to the analysis we are looking at the 12-Hour GOLD timeframe perspective, the recent events, the current formation forming, what we can expect the next times, and how to distinguish the possible scenarios lying in front of us in the GOLD chart. Since GOLD established the heavy breakdowns to the downside before the stock market and other assets it was an early runner in the market, the established bearishness was heavy and it marked a swift paradigm shift, in this case, we need to contemplate how and when the bearishness follows and if there can be a stabilization or not, in this case, I detected the important levels we should consider now to anticipate GOLD next outcomes.

Looking at my chart you can watch there this huge descending-triangle-formation marked the upper and lower boundary in blue, furthermore GOLD is building a logical wave-count within this triangle where it is currently forming the minor waves of the major wave E which is the final wave in the wave-count, this wave can possibly complete the wave-count and be the origin of a short-entry when it completed and bearishness sets in, it is important how this bearishness establishes when it is a heavy bearishness with high volatility the descending-triangle will highly likely break out to the downside as it is marked in my chart, GOLD will visit exceptionally lower levels then.

Overall GOLD has higher potential to complete this formation bearish to the downside, there is however a smaller percentage than it moves to the upside, in this case, it is very important to look on the volatility with which the bearish bounce establishes and if the lower boundary holds or not, the next times will show how GOLD will develop here and with which volatility in the range, compared to the other assets like stocks GOLD had established the bearish moves faster playing into the theory that GOLD anticipating the stock-market-movements, nevertheless the bearishness should not be ignored that we do not get overwhelmed when the next leg to the downside sets up.

In this manner, thank you for watching, support for more market insight, good day to you and all the best!
"Trading effectively is about assessing possibilities, not certainties."

Information provided is only educational and should not be used to take action in the markets.