I've never been so bullish on gold ! 4 essential steps !
Updated
I have rarely found such clear and bullish chartist signals on an asset, moreover on the reserve of value to possess, gold.
1) Short-term small Falling Wedge: first short-term bullish target, see graph on the right.
2) Ascending Triangle, drawn in red on the left graph: 2nd Bullish target, the most obvious in my opinion!
3) Large Falling Wedge, drawn in blue on the graph on the left: 3rd Bullish medium-term target.
4) Large Cup & Handle, drawn in golden yellow on the graph on the left: 4th Bullish long term target.
Highlight of the show: the media are currently saying that most of them sell their gold! I buy their fear!
DISCLAIMER: This is not an investment advice. Invest only what you can afford to lose.
1) Short-term small Falling Wedge: first short-term bullish target, see graph on the right.
2) Ascending Triangle, drawn in red on the left graph: 2nd Bullish target, the most obvious in my opinion!
3) Large Falling Wedge, drawn in blue on the graph on the left: 3rd Bullish medium-term target.
4) Large Cup & Handle, drawn in golden yellow on the graph on the left: 4th Bullish long term target.
Highlight of the show: the media are currently saying that most of them sell their gold! I buy their fear!
DISCLAIMER: This is not an investment advice. Invest only what you can afford to lose.
Trade active
In addition to my analysis, the gold price seems to be currently benefiting from a bullish breakout of a historic bearish parallel channel (2011-2019), represented hereinafter in red, and more visible at the logarithmic scale.Channel that seems to me to be a Flag simply marking a pause in a global trend... bullish!
And breakout supported by MA 200 once again support!
Trade active
It was not until December 20, 2019 that we finally managed to get out of the falling wedge, but my short term target (bottom graph) was reached as quickly as expected.I am therefore still as optimistic for the Bullish Cup & Handle long term (top graph).
Note
Bullish Target of the Ascending Triangle reached. 1st step validated.Note
"LONG / I've never been so bullish on gold !" Oct 25, 2019BITCOIN, GOLD AND REAL ESTATE, the 3 best investments of my life :)
Note
Back to my trendline for the corrective handle. 2nd step validated.
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.