GOLD, has been the most resilient and rosy asset for the entire 2024 till q1 of this year.
It keeps breaking ATH on a regular weekly basis like its nothing -- reaching a parabolic high of an impressive 3057.
Trend is currently shifting based on the current metrics which has started this friday, March 21, 2024.
A reversal to the downside is in order from this peak range. Targeting below 3k levels again.
It's doing a transition to new track pattern where it creates a healthy pull back to create another curve up trend for continuation to the upside. A 38.2 / 0.50 level of retracement.
Last time it did this pattern was on October 2024.
This transitional period is healthy for sustainable price growth.
This red days will linger for a bit till it gets lighter -- but we may see a trim down of thousands of pips before we get to the most attractive bargain levels.
For the mean time, shorts will have the best season for now.
As for bulls -- stay in cash until it shifts again -- but more waiting is needed.
Spotted at 3057.
Target below 3000.
Overextended target below 2900.
Again these are all guidance. Be guided.
It can be invalidated anytime.
Trade safely always. TAYOR.
It keeps breaking ATH on a regular weekly basis like its nothing -- reaching a parabolic high of an impressive 3057.
Trend is currently shifting based on the current metrics which has started this friday, March 21, 2024.
A reversal to the downside is in order from this peak range. Targeting below 3k levels again.
It's doing a transition to new track pattern where it creates a healthy pull back to create another curve up trend for continuation to the upside. A 38.2 / 0.50 level of retracement.
Last time it did this pattern was on October 2024.
This transitional period is healthy for sustainable price growth.
This red days will linger for a bit till it gets lighter -- but we may see a trim down of thousands of pips before we get to the most attractive bargain levels.
For the mean time, shorts will have the best season for now.
As for bulls -- stay in cash until it shifts again -- but more waiting is needed.
Spotted at 3057.
Target below 3000.
Overextended target below 2900.
Again these are all guidance. Be guided.
It can be invalidated anytime.
Trade safely always. TAYOR.
Trade active
another diagram for reference Notice the precise movement with the colored dots -- the precise proportion is insane.
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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.