TLDR:
This isn't a move or a tradingview idea for short term day traders. Last time gold was under the value area that condition lasted 6 years before a decade long parabolic move began. I think that we will be, relatively shortly, beneath the lower value area and accumulation will be broadly between $650 and $1,000.
Main Idea
Trend lines and horizontal levels flipping support and resistance has become a renewed refocus as I iterate through the fundamental basics of charting. This can hold true for indicators as well and as I iterate my focus on volume I'll be paying attention to support and resistance as well on the volume area and high volume nodes.
During the orange parabolic move we can see that the 500 level was where the price action experienced the end of its blow off top and it took from '79 to '81 for that level to be clearly broken as support and 500 acted as resistance from '82 to '87. The orange triangle is a bit rough, there are a couple of ways to draw it depending on what you want to highlight. I drew the orange triangle to show the break out level to the numerologically important number of 420 (much like how the bottom of the SPX during the last panic ended at 666). Price action returned to near the beginning of the triangle support, about $260.
The purple triangle has much the same pattern except the value area of the volume profile looks quite a bit different, as there is no pinch like the we see at the end of the orange triangle at around 380. I think we will see price action slip our of the purple triangle, through the VPVR High Volume Node, through the lower value area where it would be a very bright idea for gold bugs to accumulate while price action settles on around 650 before the next leg up. It is a very rough estimation, but being below the value area is undervalued, and being above the value area is overvalued.
The idea of accumulating between $650 and $850 or $1,000 sounds like a lot of work for a very wide area but that is where I think the gold bugs will be, or those value investors buying undervalued assets with the long view. Anything below $500 would be a cataclysm.
Personal note
I have been in DUST since the price action lanced out of the purple triangle and the trade has been treating me very well. The gains for the next 5-10 years look to be ridiculous. if my targets on Gold are anywhere near accurate. ETFs often have a discount and premium and I think I bought this at a discount and I want to sell it when the premium has inflated.
This isn't a move or a tradingview idea for short term day traders. Last time gold was under the value area that condition lasted 6 years before a decade long parabolic move began. I think that we will be, relatively shortly, beneath the lower value area and accumulation will be broadly between $650 and $1,000.
Main Idea
Trend lines and horizontal levels flipping support and resistance has become a renewed refocus as I iterate through the fundamental basics of charting. This can hold true for indicators as well and as I iterate my focus on volume I'll be paying attention to support and resistance as well on the volume area and high volume nodes.
During the orange parabolic move we can see that the 500 level was where the price action experienced the end of its blow off top and it took from '79 to '81 for that level to be clearly broken as support and 500 acted as resistance from '82 to '87. The orange triangle is a bit rough, there are a couple of ways to draw it depending on what you want to highlight. I drew the orange triangle to show the break out level to the numerologically important number of 420 (much like how the bottom of the SPX during the last panic ended at 666). Price action returned to near the beginning of the triangle support, about $260.
The purple triangle has much the same pattern except the value area of the volume profile looks quite a bit different, as there is no pinch like the we see at the end of the orange triangle at around 380. I think we will see price action slip our of the purple triangle, through the VPVR High Volume Node, through the lower value area where it would be a very bright idea for gold bugs to accumulate while price action settles on around 650 before the next leg up. It is a very rough estimation, but being below the value area is undervalued, and being above the value area is overvalued.
The idea of accumulating between $650 and $850 or $1,000 sounds like a lot of work for a very wide area but that is where I think the gold bugs will be, or those value investors buying undervalued assets with the long view. Anything below $500 would be a cataclysm.
Personal note
I have been in DUST since the price action lanced out of the purple triangle and the trade has been treating me very well. The gains for the next 5-10 years look to be ridiculous. if my targets on Gold are anywhere near accurate. ETFs often have a discount and premium and I think I bought this at a discount and I want to sell it when the premium has inflated.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
