Not liking this chart at all..
I thought I saw a rising wedge on the correctly orientated chart, I flipped it and I see this as confirmation of lower prices to come.. We are grinding up in a rising wedge with lowering volume which has me concerned.
Still NET Long however. Not selling and will only buy more if we do come to lower prices..
Does this coincide with...
By looking at the chart, it looks more similar a upside down mountain sloppy hill.
Recognizing this kind of a change can allow traders to take profits and protect themselves from buying into an unfavorable market, or strategics to make money from falling prices by short-selling.
The big question is that what will be the next move?
So basically it has many...
The thing I just spotted on chart which I didn't see before. I marked very powerful formation which may suggest really strong bullish movement. I put in link another pair which made good move towards north after similar price action where psychological level was 10 dollars, and here we have 0.00200000. More I'm looking at the chart more patterns I see which are...
This is year 2010 when I tried to figure out where gold is going.
I posted it to show you what happened after Gold hit 1000$ strong psychological round number with upside-down head and shoulders formation and what happened later on.
...just in case you wonder what are possibilities