You know I did get excited for a moment.
It wasn't a long moment but it was real.
That GOLD could be a real hedge.
A real asset to hold against the black swan.
But anyhow - thats a nasty shooting star as GOLD1! is about to close for the week.
And i'll be watching to see how GOLD reacts to the 50WMA, but I'm now starting to look to the 200WMA.
I mean - just look at that star; just look at it 🙄.
Its over - there is no hedge.
Not advice.
It wasn't a long moment but it was real.
That GOLD could be a real hedge.
A real asset to hold against the black swan.
But anyhow - thats a nasty shooting star as GOLD1! is about to close for the week.
And i'll be watching to see how GOLD reacts to the 50WMA, but I'm now starting to look to the 200WMA.
I mean - just look at that star; just look at it 🙄.
Its over - there is no hedge.
Not advice.
I'm taking a break from TradingView but you can find me every day in my Telegram Trading Group 🧐
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
For a strong wave 5 uptrend, LTF wave 2's do not form enormous stars.
However I'm not entirely writing off gold just yet, but the alternative (I think) is that if it is a wave 2 then the most ridiculous and insane wave 3 is coming. I'm more pessimistic but if I see some bullish action I'll be paying close attention.
But if you ask me now I say its a top and I'll just keep my short open from previous thread just in case its a real winner.