Comparing the Gold price development with the historic crash in October 1987 (similar RSI, similar situation "as bad as never before", etc.), I would rather vote for Plan B
dzvalentino
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@ReallyMe, but it didn't have such a massive rally before the crash like from 2001 to 2011 :)
ReallyMe
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@dzvalentino, the worse it is actually. price decline after a crash without a previous rally actually means the more price decline after a crash with a rally before, don't you think?
dzvalentino
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@ReallyMe, While there is logic in this, the price of gold is something inherently bullish. Due to inflation not for the last reason. Do you think it will ever come back to the price it was at 50 years ago?
ReallyMe
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@dzvalentino, No, not at all. Where did I say that? I think Gold will go up in the long run, but the cycles will not be what most retail traders want them to be, they will be just to screw them. Because the professional Gold traders have known for decades how to speculate on this market for their benefit.
TraderMitchPA
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@ReallyMe, this is why liquidity is needed in charting. All the signs were pointing up, except for your lagging indicators
ReallyMe
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@ShoultzyBM, What do you mean by liquidity, volume indicator? Do you know any indicators that do not lag behind, some that look ahead directly into the future? ;-)