Gold violence. They are buying the dip 😬

Quick post to note Gold selloff.
After a long overheated rally, the big correction might be here.

I do not think the rally continues, hard to call a top, but here as price is falling straight down, I think this could be it.

I would not buy before the price dropped at least to 1800, and bottomed.

Retail traders are of course buying the dip, this could turn in yet another success story of 90% retail is long with the price in a strong downtrend, and their average entry is the top.

Comment:

Biden making a speech in 1 hour, and this morning Powell did.

Canada just released their terrible employment numbers.
People don't have to work, people don't go to work.
We've known so since 50 BC. At least.

USD collapsing, Gold going up. Even other currencies.
I exited one of my Aussie positions at the top just before the mega fall, I sold at the top I am a magician.

"Friday's US jobs report could trigger 'explosive' volatility in markets, analysts say. Here's why they're bracing for some big price swings."
www.msn.com/en-us/mo...ce-swings/ar-AAKHwwP

The prices are already exploding, they might explode MOAR soon.
I don't care if Canada goes Venezuela, as long as the US go Zimbabwe.
At least Switzerland is a stable nation, and my USDCHF short should pay off now.

In the short term prices move a lot, but other than this no reasons for trends to change.
Simply some currencies will go to zero a bit faster than previously. All good.
And there might be some pullbacks which are just an opportunity to join the trend for a cheap price.

Comment:

My little finger tells me it will go down but be underwhelming.

And it won't just go up either, just going to go for 3 months of sideways like here:

Not with much hope here...