GOLD, Long Term Bearish Idea, 10 Year Plan!?
Updated
Lets keep it simple...
This top chart will be the long term idea, I will post a short term under in the comments.
Everyone wants gold to bull run, that is why it probably shouldn't. Here is my 10 year plan for gold, I do not invest in gold, as I would rather invest in silver, but I like to chart stuff.
LONG TERM IDEA:
We have tons of non stop sell signals over the years, always being over priced imo, not a single buy signal on the WEEKLY.
We also have the Ichimoku turning bearish on the WEEKLY, with selling momentum INCREASING.
With this group of wedges I've drawn, I've labeled buy and sell areas of interest. The 618 will be an interesting level to watch from panic selling or overselling of the dip.
You will see my only bullish play in the comment below with a more zoomed in area of the bounce play.
I think there will be a false breakout of the first sell zone, to reach the second sell zone on top of the wedge corner.
There is a lot of time for this idea, so I am going to keep this one simple with less indications at the moment until closer to the time of areas.
Happy Trading, Debating and Speculating! I want everyone to win!
This top chart will be the long term idea, I will post a short term under in the comments.
Everyone wants gold to bull run, that is why it probably shouldn't. Here is my 10 year plan for gold, I do not invest in gold, as I would rather invest in silver, but I like to chart stuff.
LONG TERM IDEA:
We have tons of non stop sell signals over the years, always being over priced imo, not a single buy signal on the WEEKLY.
We also have the Ichimoku turning bearish on the WEEKLY, with selling momentum INCREASING.
With this group of wedges I've drawn, I've labeled buy and sell areas of interest. The 618 will be an interesting level to watch from panic selling or overselling of the dip.
You will see my only bullish play in the comment below with a more zoomed in area of the bounce play.
I think there will be a false breakout of the first sell zone, to reach the second sell zone on top of the wedge corner.
There is a lot of time for this idea, so I am going to keep this one simple with less indications at the moment until closer to the time of areas.
Happy Trading, Debating and Speculating! I want everyone to win!
Trade active
Short bounce play chart zoomed in. Wedge fail ideas and levels.FOLLOW for updates!
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