Conclusions: > Do not expect a direct clear correlation. One would mean people have a crystal ball... > Gold should go up in the future, bottom and start going up in perhaps the next 2-3 years. > There is probably no point FOMO buying now, and anyway now is not a good entry.
I see mainly 2 possibilities, and I would trade this in one of 2 ways:
A- Perfect bottom
Hold approach
Short term trade approach
B- No perfect bottom
For me there is no scenario where I would FOMO in now.
I'll buy at ~1200 in a few weeks normally, take profit and leave some in + trail my stop so this might be my entry, it could just go up from there, not impossible.
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Central banks are pushing this bubble to the limit. Central banks are accumulating gold as we 'speak'.
These 2 facts look funny when put close to each other.