This is just Overall Long term Gold Analysis.
While looking at long term Gold Weekly chart, i stumbled upon this idea of that Gold might be doing what bitcoin did.
What Bitcoin did in a few weeks ( very short time ), Gold could be doing the same but Gold would take longer time to print this pattern.
Overall gold for short term is in a downtrend as you can see that downtrend parallel channel.
Thus, looking forward in upcoming few months that Gold might be retesting its Major support level at around 1540 to 1560.
Very interesting it is indeed to look at. Even though, i could very well be wrong but fractals can play out really well.
Invalidation of this analysis would be if Gold did not breakdown from its local support at around 1675 and instead it breaks above 1876, its' previous High it made.
I hope it was worth it for you guys to look at this interesting idea about Gold and bitcoin fractal. Enjoy and Trade safely everyone.
While looking at long term Gold Weekly chart, i stumbled upon this idea of that Gold might be doing what bitcoin did.
What Bitcoin did in a few weeks ( very short time ), Gold could be doing the same but Gold would take longer time to print this pattern.
Overall gold for short term is in a downtrend as you can see that downtrend parallel channel.
Thus, looking forward in upcoming few months that Gold might be retesting its Major support level at around 1540 to 1560.
Very interesting it is indeed to look at. Even though, i could very well be wrong but fractals can play out really well.
Invalidation of this analysis would be if Gold did not breakdown from its local support at around 1675 and instead it breaks above 1876, its' previous High it made.
I hope it was worth it for you guys to look at this interesting idea about Gold and bitcoin fractal. Enjoy and Trade safely everyone.