Clearly, this can no longer be defined as a bull market.Clearly, this can no longer be defined as a bull market.
This is a mad cow.
As shown in Figure 4h:
Gold prices have peaked again near 4220.
The structure is very clear, marking the final resistance level of the converging ascending triangle.
The most important signal is that gold prices have entered the final explosive phase of a converging oscillation.
There are only two possible outcomes over the next two days:
1: Gold prices completely crush the bears and surge to $4300.
2: An extreme reversal occurs near 4220, forming a massive waterfall, completely crushing investors chasing higher prices and capturing a new wave of buyers.
Currently, there are only two strategies for day trading:
1: Go long at low prices and wait for a waterfall. Every large waterfall signals a long opportunity.
2: Play with fire. Go short in the 4200-4210 range, with a stop-loss above 4220. Large losses are possible at any time, but be prepared to bear them.
