its hard to chart this one long term
but weekly and log you can manage to see it follows a parallel channel
in the middle you have gann fan
and it bounces on these
now we are on the down channel
plus under gann fan
next step is following the channel sliding slowly like i often does towards a eventual 7$ lets say fed prints and everybody in florida acting like...
im practicing my knowledge of charts on stuff i don't trade si i can have no bias.
gold range seems on a Gann Fan since 1998, now is just overbought RSI, but their is gonna be action
still i you buy gold, you will stay in a 1400-2000$ range for the next year
and basically be at the same point (1700$) then.
after a year its gonna be time to revalue all that.
So i made this chart, i've learned to doubt 100% of predictions
Still i want to pratice my knowledge on chart and try something.
Price action should stay inside that triangle
200MA weekly is around 5800
if Gann Fan works, then it should stay inside these lines.
My guest is short it till it goes to 6000
but then yes it should bounce back.
if it goes into a purple...
If we don't break down and the market drops
we will go again at 15$ first
then 19.50$ to 20$ is very possible, i've been pushing for 20$ for a long time now
next step is 22,50$, that's were i thought we were supposed to stay back at beginning of april, that where 200MA is also
over that its a very hard resistance, if it goes over that then 31 and 41...
Their is no hockey and NQ is in a "Goaler Hockey Stick" Pattern, very Bearish
That's a Canadien analysis
Also, the president is making decisions because of elections, not because 4% of the 500 000 cases in USA are dead.
23 000 death in 3 weeks and style he cares about him.
Not very Canadien, and not bullish.
Hockey Stick pattern.
I have a backstory of being wrong, i've lost a lot of money between june and december on SQQQ
but lately i predicted the Covid Drop, the "'after bubble" and since then it reminded me my errors were that i was trading SQQQ on a large scale instead of a 15min scale
at 15min scale you can always count on it to go back to RSI 60
still when you zoom back, you notice...
Daily NQ was rigged by Trump on 2 main strategies
1- faking to be tough on Mexico and claim victory in June 2019
2- faking withdraw from Syria and them claim victory in October 2019
lately he did the same with Iran
all this to rally throught elections
so we are since June on a overpriced market
and when the news pops it doesn't retract
even if over 23 trillions...