Nuseii

How is anyone Bullish on Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
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This is my first time ever making a chart on Gold (besides comparing it to other assets)

I'm confused how anyone can be Bullish on Gold . It looks to have peaked in 2011 and been on a steady decline since then.

Tools used:
Custom Fibs with Added Square Roots/Golden ratio multiplications
GANN from ATL (as far as i know per this chart)
Regression Tool(very new to using this, seemed appropriate)
i think, for a solid long term support:
- the must solid criteria is, it must be retraced 61,8% - 78,6%, before next long term up move!
- that means, Gold MUST go down to 889$ (61,8%) - 609$ (78,6%)
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Same way people are bullish on bitcoin bro.
+1 Reply
RomanoRnr btcdrak
A man who piss against the wind, should not complain about his cleaning bills!
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