Sharing an older chart of my gold long trade, which was confirmed by the cup and handle pattern.
A means of exchange for over 5000 years. Nothing can compare to the history and longevity of the world's most durable asset. Currencies have come and gone, but gold remains good and true.
Over the last 23 years there has been some excellent opportunities to load up on this precious metal. Notably the Covid Dump and also the recent start of the escalations on October 7th 2023.
I do suspect we top out soon as we approach that $2800 to $3000 level. I don't know what will cause the crash, it could be due to a financial crisis on a global scale, or perhaps due to another black swan event.
If it does fall back towards the long term trendline, I will certainly be a buyer and not a seller. Consider taking some profits at the $2800-3000 level if trading it on a shorter term basis.
Do your own research, not financial advice.
A means of exchange for over 5000 years. Nothing can compare to the history and longevity of the world's most durable asset. Currencies have come and gone, but gold remains good and true.
Over the last 23 years there has been some excellent opportunities to load up on this precious metal. Notably the Covid Dump and also the recent start of the escalations on October 7th 2023.
I do suspect we top out soon as we approach that $2800 to $3000 level. I don't know what will cause the crash, it could be due to a financial crisis on a global scale, or perhaps due to another black swan event.
If it does fall back towards the long term trendline, I will certainly be a buyer and not a seller. Consider taking some profits at the $2800-3000 level if trading it on a shorter term basis.
Do your own research, not financial advice.
Trade closed: target reached
Target reached, 75% position exited
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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.