wolfstreetswinger
Short

GOLD ENDING TRIANGLE POSSIBILITIES

TVC:GOLD   CFDs on Gold (US$ / OZ)
246 2 5
OUTLOOK ON GOLD             IS QUITE SIMILAR TO SILVER            

STILL LOOKING BEARISH AFTER PRICE WAS REJECTED BY THE MONTHLY DOWNTREND LINE AND HEAVY BEARISH KUMO WITH A GOOD BEARISH SIGNAL ON THE FISHER THERE I BELIEVE WE ARE STILL SHORT WITH ALSO UPCOMING RATE HIKES.

WITH ANOTHER POSSIBLE ENDING TRIANGLE I AM HOLDING SHORT TO TRIANGLE POINT C AROUND 111.8 PROBABLY HEDGE IN A LONG THERE OFF THAT NICE RISING SUPPORT LINE FOR A CHANCE WE COULD GO UP. IF WE ARE IN FACT IN A TRIANGLE AND WE BREAK LOWER I HAVE INCLUDED SOME AREAS OF CONJOINT SUPPORT WHERE WE COULD ENTER POSSIBLE LONGS AND SOME TARGETS FOR FUTURE HIGHS.
Comment: ALSO IS IT JUST ME OR DOES GOLD LOOK LIKE A GIANT FLAG
wow it is a good way of seeing it
+1 Reply
@felix997, Thank you going well so far metals become a safe haven in the run up to the elections and we had a good rally covered long for a while until we got rejected big time by the downtrend line again so i still remain bearish as we come into possible rate hikes next month
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