Update-Three positions are active in our portfolio, Two of them dedicated to gold and one is a silver trade where we took the entry at $15 last week.
most analyst tends to change there bias because of a very short term price movement but that's not how we work, In order to gain significant profit from the market, we always tend to focus on the long term picture of the precious metal market and try to ignore short term price fluctuations. we informed you numerous times that market is in nature but today let's try to understand what exactly is a fractal?
Based on Wikipedia definition: "Fractals are typically self-similar patterns, where self-similar means they are "the same from near as from far".Fractals may be exactly the same at every scale, or they may be nearly the same at different scales. The definition of goes beyond self-similarity per se to exclude trivial self-similarity and include the idea of a detailed pattern repeating itself".
In our own words: History does repeat itself but not because the market has a memory but simply because the way interacts is decided by people in the market in a similar way, with similar criteria, and with similar emotions. It may be that the details differ or the fundamental may change but unless there's a significant change, then there is no reason to expect market participants to act differently to how they do normally, thus the market will exhibit the same pattern. Because of this, the market will repeat the same price action to a varying extent in time and proportions.
what does it need to do with gold and silver market?
The historical charts tell that The self-similar pattern has been identified the most in the precious metal market. nature is an important aspect to understand the gold and silver market.
our current bias-The bears are in the full control and have the overall technical advantage in gold and silver market overall we believe the boring price movement which we have witnessed from weeks in the precious metal sector has already ended and the serious technical damage in P. Ms charts has already inflicted however the next breakdown could be more severe enough.