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2008analogy

Gold, Daily, The last decline before the increase?On the XAUUSD chart, a clear SMC setup is seen. After the liquidity grab, the price has reacted to the weekly daily-refined supply zone with a Head and Shoulders formation (4H). To complete this formation, the price might bounce off the 4-hour flip zone. Drops, breaking through the support and making the next break of structure, can stop at the nearest demand zone and, following the 2008 analogy, start increases in the gold price. I will publish an idea about this analogy, as I did with the S&P 500 index and VIX. Check out my related ideas as well.
TVC:GOLDShort
by MichaelFX_ICT
Copper, Weekly (log), The 2008 AnalogyLet's see what the 2008 analogy says about the next thing. Currently, we can observe a similarity in many charts, e.g., the S&P 500 index, VIX, gold, and USOIL / UKOIL, to what was happening in 2008. Copper is no exception, and the analogy indicates copper's price decline. If the price follows it perfectly, the declines may end in the second zone. But I do not expect such accuracy; there is also the closer (first) zone, which can bring it on. I will write no more about it, why it may happen. Check out the related ideas.
CAPITALCOM:COPPERShort
by MichaelFX_ICT
WTI Crude Oil, Weekly (log), The 2008 AnalogyThe actual USOIL weekly chart is confusingly similar to the 2008 daily chart. By analogy, the oil price should go south even to twenty-something dollars. The current economic situation confirms it, as the leading economic indicator (LEI) announces a recession in the near future. Also, moving average analysis confirms it. I matched the closest smoothing moving average (53), which was support after by candle closes (two taps) a year ago. And now, the same moving average was a strong resistance also with two taps by candle closes/opens.
TVC:USOILShort
by MichaelFX_ICT