Dont see December as highest price season for gold

People often use by end of the year as time target, but its a mistake to use end of the year for highest target

I can use 6month TF or 3 month TF for easy view
In this chart I use 3 month TF
The marked wick line = oktober november december candle
You can see it not the highest performing candle during bullish trend
It better in next candle which is January Feb and Mar candle

So forget Dec as highest price, for example if you see 3000$ as top price target
Use it for Jan to Mar better than October to December.

Note

Very interesting
There always a micro support or micro double bottom on 3month TF...
It not happened yet

Note

I also found the bullish fibo target...
It actually simple even not accurate...

1.5 or 2 or 2.5 or 3
Always 0.5 increment...
U will see 2300 2520 2740 and 2970
All important number
Wow...

Note

The fibo not acurate but it will make fibo easier to use based on 0.5 increment

Maybe i can backtest it later
0.5 or 1 or 1.5 or 2 or 2.5 or 3 versus momentum reversal indicator...

Note

For example monthly TF breakout fibo
As you can see it making 1.5 as resistabce or support, so next fibo 2 will be targeted (it will break higher because fibo 2 not too accurate as target)

Note

Yeah 0.5 increment work as resistance up to 4...
Nice...

salvanost

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.