!*!*! The Fear of drop because of the Rising Wedge pattern is not over yet !*!*!
At the end of last month, the Market lost the bullish strength and there was a breakout of the current key trend. Gold was very close to free-fall to 1700 But As a reaction of Joe Biden's Victory Market pushed back Gold inside the trend with a clear reversal pattern that was formed below the Major trend line.
There is an Accumulation After the corona recovery which lasted for 2 months and it looks powerful. So After the market breaks the trend it is going to fall to 50% of the Accumulation and 50% of Accumulation is always the hit and run area because the market doesn't want to stay there more than a wick because if it stayed there it will again stuck in that zone for at least a month. That will be a great time for us because we can easily buy and sell in that range without losing trade, I have done it many times.
Good Luck!
At the end of last month, the Market lost the bullish strength and there was a breakout of the current key trend. Gold was very close to free-fall to 1700 But As a reaction of Joe Biden's Victory Market pushed back Gold inside the trend with a clear reversal pattern that was formed below the Major trend line.
There is an Accumulation After the corona recovery which lasted for 2 months and it looks powerful. So After the market breaks the trend it is going to fall to 50% of the Accumulation and 50% of Accumulation is always the hit and run area because the market doesn't want to stay there more than a wick because if it stayed there it will again stuck in that zone for at least a month. That will be a great time for us because we can easily buy and sell in that range without losing trade, I have done it many times.
Good Luck!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.