Bears Turn
Good luck to all.
Some Facts:
- reached the top of a trendline that dates back to the 1980’s which have seen other pros call the “1980’s battle-line” 👀 Monthly TF [log.]
- volume coincides with some consistent braking power
- RSI seems pointy downward
- the 2015-18 trendline looks magnetic
- the weekly candle just closed speaks for itself
- the short term MA and FVG traders will be busy (or tired buying)
- the head and shoulders on that record high - you could frame that in theory books
- Wyckoff scout cracked through Ice
- as a ship on the trading seas then you could say this is a tack to the bear side, no rush though… see you in a few months/years? Would have patience for a 2,150 target minimum from here.
What could detract from golds appeal? Better opportunity cost elsewhere that gets faster returns? Could it get worse on the global political situation than it is right now really? Has the very recent (last 2 week) global escalations driven peaks beyond the high (no it hasn't)? Has the interest rate hype already been priced in? Is Trump lined up to do some deals that strengthen dollar and peace, make gold boring again?
Ah? Mmm...Shipsy.
⚓️ 🏴☠️ 🌊
Some Facts:
- reached the top of a trendline that dates back to the 1980’s which have seen other pros call the “1980’s battle-line” 👀 Monthly TF [log.]
- volume coincides with some consistent braking power
- RSI seems pointy downward
- the 2015-18 trendline looks magnetic
- the weekly candle just closed speaks for itself
- the short term MA and FVG traders will be busy (or tired buying)
- the head and shoulders on that record high - you could frame that in theory books
- Wyckoff scout cracked through Ice
- as a ship on the trading seas then you could say this is a tack to the bear side, no rush though… see you in a few months/years? Would have patience for a 2,150 target minimum from here.
What could detract from golds appeal? Better opportunity cost elsewhere that gets faster returns? Could it get worse on the global political situation than it is right now really? Has the very recent (last 2 week) global escalations driven peaks beyond the high (no it hasn't)? Has the interest rate hype already been priced in? Is Trump lined up to do some deals that strengthen dollar and peace, make gold boring again?
Ah? Mmm...Shipsy.
⚓️ 🏴☠️ 🌊
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