Idea for Gold (XAUUSD): - This is a Wyckoff Distribution Forecast of Gold.
Wyckoff Definitions: BC - Buying Climax SOW - Sign of Weakness UT - Upthrust LPSY - Last Point Of Supply
Wyckoff Phases: Phase A - Stopping of prior uptrend Phase B - Building a cause for preparation for a new downtrend Phase C - Test of remaining demand Phase D - Supply showing dominance Phase E - Unfolding of the downtrend
GLHF - DPT
Trade active
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Speculation: - Governments will be dumping their paper gold on speculative frontrunners of Basel III at peak inflation until it reaches a suitable price for re-accumulation.
I agree. Gold can even fall to 1600 - provided US maintains its dovish stance
mjelicespanol
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I think that GOLD is going UP...strongly
LvMises
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On the other hand what you draw for XAUUSD, fits more closely to BTCUSD.
braingirl1994
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Look at the pattern since 2010. It's a classic cup and handle which is bullish. You drew your chart wrong by looking only at the narrow time-frame of the handle, which the final correction before a spike up. You slavish devotion to a simplistic deterministic model like Wycoff is moronic. It's options expiration week before a major shift in international banking policy. The Bank of international Settlement Basel III Net Stable Funding Ratio rules go in effect for European Banks at the end of June 2021 and UK banks Jan 1 2022. This will revalue the price of allocated gold up because gold will now be a risk free asset similar to cash. And the rules increase capital requirements for unallocated gold to 85% and make it more expensive for manipulators to short with unallocated paper contracts. So many banks will try to get out of their short positions this week and then go long. So there will be some volatility this week and at any time a spike up from the squeeze. A good time to buy or enter before gold gets revalued up.
RannyCZ
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i have just 2 questions...
how could you get 8 likes?
if I click play, will my computer crash?
risk1911
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lol. you actually believe this?
hbuddy72
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Good luck with that
SpikesSetups
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loooool
braingirl1994
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Groan, this is a platitude. And slavishly trying to apply it to every market is not only misinformed but IGNORANT of what factors drive each separate market. Wycoff crutch for avoiding doing your homework. There are many forms of bulltraps. Unfortunately such a deterministic view fails to account for the macroeconomic factors and policy changes that are just around the corner.
LvMises
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lol man. You are seeing things. That upper base from 2011 to 2020 does not even agree with this so called Wyckoff Distribution