Updated chart to remove bearish channel, as we have broken out of that, but drew a new down trend line that we will have to cross out of, in order to start a new bull run. I still like buying in the gold area, if we can get there. As time marches on, we will eventually enter the green long term bullish channel which should eventually force a new rally, but it's almost too perfect, so I continue to watch, wait, and see what happens here.
Something to consider is these upcoming battles are really telegraphed and so lots of people are preparing for some kind of action in the coming months. I don't have a good feeling about this. Why? I have no data to show you, but just experience in life tells me that when everything is lining up perfectly and you think it's a given, usually things don't work that way. That's when you get clubbed. So this is the alarm that is going off while I am watching this.
Part of me does want to try to place some orders at the bottom of the green channel, just in case you can be lucky and catch a surprise drop down around those levels.
still is it a trap?
Where is Admiral Ackbar when you need him.. https://i.imgur.com/LaJ9Kmo.gif
Something to consider is these upcoming battles are really telegraphed and so lots of people are preparing for some kind of action in the coming months. I don't have a good feeling about this. Why? I have no data to show you, but just experience in life tells me that when everything is lining up perfectly and you think it's a given, usually things don't work that way. That's when you get clubbed. So this is the alarm that is going off while I am watching this.
Part of me does want to try to place some orders at the bottom of the green channel, just in case you can be lucky and catch a surprise drop down around those levels.
still is it a trap?
Where is Admiral Ackbar when you need him.. https://i.imgur.com/LaJ9Kmo.gif