Gold is in a descending channel. We have lower highs and lower lows on the monthly time-frame. My hope is that in the long run it will form a handle, as we already have created a massive cup all the way from 2011. Ideally I'd like to see a sweep into that powerful $1500 supply zone sometime around the beginning to middle of next year. That may be the last time we get to see gold at those levels.
If you play the intraday moves on an instrument like gold I would be interested in hearing from you. I am learning technical analysis only through Babypips and crypto so far, where massive dumps and 200% moves in a matter of days are commonplace. It is truly a trial by fire, but also feels a bit too much like gambling at times.
My risk appetite has changed. I lost most of my life savings with the 'buy and hold' strategy all the way into the last bear market. I am being much more careful this time around, but it is still extremely risky and volatile. I pray every day that I will do well, that I will retain my profits and that this time I will leave crypto before the bottom drops out.
That's why I want to learn other markets as well. There is always opportunity if you know where to look, and technical analysis is a skillset which literally teaches you how to make money. The idea that if you just manipulate value in the right ways you can create exponential profits is incredibly alluring. I'm sure a lot of you that have achieved success in this way are living out the life of your dreams and I want that reality for myself as well. I'm more determined than ever!
If you play the intraday moves on an instrument like gold I would be interested in hearing from you. I am learning technical analysis only through Babypips and crypto so far, where massive dumps and 200% moves in a matter of days are commonplace. It is truly a trial by fire, but also feels a bit too much like gambling at times.
My risk appetite has changed. I lost most of my life savings with the 'buy and hold' strategy all the way into the last bear market. I am being much more careful this time around, but it is still extremely risky and volatile. I pray every day that I will do well, that I will retain my profits and that this time I will leave crypto before the bottom drops out.
That's why I want to learn other markets as well. There is always opportunity if you know where to look, and technical analysis is a skillset which literally teaches you how to make money. The idea that if you just manipulate value in the right ways you can create exponential profits is incredibly alluring. I'm sure a lot of you that have achieved success in this way are living out the life of your dreams and I want that reality for myself as well. I'm more determined than ever!