The craft of trading is like solving the greatest financial puzzles using mathematical equations and behavioural structures. F
Gold has been one of my favourite markets to trade due to its structure, and precious ability to act as a safe haven when everything looks gloomy.
I am not painting gloom as yet, but will definitely capitalise on the next drop. Don't miss it!!!!!
We have what looks to be a 3-3-5 regular flat forming on a daily time frame, and a subway 4 correctly completing. A break below this trend line and gold could give back 2017 gains touching its January 2017 open of $1,150, coincidentally this price also sits around clusters of major Fibonacci levels.
Preferred Yellow: At any point, price down rapidly fall from here. If the DXY (US Dollar Basket) recovers, this will support the drop. Watch the RSI to cross.
Teal Projection: Second scenario would be one more wave up to extreme level. then fall.
If GOLD can follow this structure and complete the arrows, I will be EXTREMELY BULLISH in 2019 on gold, gold stocks and gold ETFS as this could signal the recession.