Thank you so much for coming today, this post is simply because I feel gold is extremely overvalued.
We have a nice pitchfork channel depicted above that is a possible route of gold price.📉🆗👍
When the market crashes, you hear them say "Gold!! It's store of value , stack it up!!!" 👉 🤔😄🥱😮👀🥴🔻🔻🔻🔻🔻
This makes no sense to me, Gold has been used since BC (before Christ,) as a currency, and it has definitely seen better days.🙈🙊🙉
The fact that the world has converted to fiat, and now well, possibly BTC, is becoming more and more decentralized + digital🌏📺🖥, tangible commodities like gold are not as valuable as they once were.
As Michael Saylor says "Gold is dead, kick it to the ground." 🔨⚱🦵
(There is also loads of grim fundamental news this week involving gold, consider this)
That is all🙂
Thank you so much!!!!!
I understand that this is not a universal opinion, but I would love to hear your thoughts on XAUUSD👁🟨, either way😃
🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs, major trend-lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss ✋🛑💲 set
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.
Is there a possibility of peak retest? And then fell sharply?
jazerbay
⋅
@enayat1360, absolutely is a possibility of test and fall IMO, however it would take a matter of a couple of weeks as gold is not extremely volatile, like most cryptocurrenies 😄
Well done!