I'm talking about the inflation adjusted chart high of 1980, not 2011...It seems this is the first big yearly time@mode signal in it since the bottom in 2001. The highest low resistance zone in the yearly chart, from 1980 had kept price subdued for years but the recent measures introduced to fight off the Coronavirus induced crisis and societary cost will have an effect on the value of money globally I suspect. Good time to be long in scarce assets like #gold and #bitcoin.
The margin call induced crash in #XAUUSD is a good chance to load up, it seems to have held support in the weekly #XAUUSD chart, and might reload for another strong move up soon. Max long term risk is 13% if you go all in, so factor that in for position sizing in long term entries. Stops are not easy to place, but should not drop more to hold it, give it some wiggle room but don't hold on to it if it drops more than 3 times the daily average true range from here.
Cheers,
Ivan Labrie.
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So far so good...Oversold here, if it breaks over a previous day high it is a good sign.
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This area is critical, big resistance from break even sellers for now. Once gold makes higher lows it may go higher...