Those are bearish rising expanding wedges. When they break down below support, the target is the start of the pattern
Can't emphasize enough the importance of the gold vs silver ratio. Again, at a critical inflection point.
For those that think this is 2013 all over again... It's not. Momentum is just starting to build up. Not dwindle down.
Gold's "open interest" 7 year rate of change telling me two things... 1- No where near fear of missing levels 2- Bottoms for gold are forged in these areas
If silver's price action decides to run upwards, there is lot's of fuel as defined by the open interest. Again, no where near fear of missing out levels seen in end-game parabolic melt ups.
Gold not crumbling down makes me think it's expecting a HUGE bounce for the 30 year vs 10 year yield ratio. Fuel reservoir is FULL and ready for take off! #xauusd #xagusd #inflation #markets #nasdaq #fomc
It's not getting any better for Nasdaq vs Silver. You just can't over turn the 7 year rate of change in a couple of months. Don't say you were not warned many months ago...
Chart trading would of gotten you in at a low risk entry point for #Fortescue. Not at the bottom, but still yielded some insane gains.
“History Doesn't Repeat Itself, but It Often Rhymes” --Mark Twain.
In the 1970's silver bottomed during the recovery phase of US equities market crash. In the 2000's silver bottomed before US equities found their lows. Which one will we have now?
Oh man, did I get this all wrong? Let me know! Target is a reverse symmetry move.
Oh wait... Inverted scale again guys... so sorry.
Trying to situate where we are in expansion cycle vs contraction. We might be early, but definitely not late.
Expect months to years for Nasdaq to reach back all time highs. Previous times to recuperate once this signal was hit: 2008 - 1058 days 2011 - 169 days 2012 - 170 days 2015 - 339 days 2018 - 335 days 2020 - 92 days 2022 - ???
I tried to forget anything I know about the gold chart, and showcase my techniques. Notice the weight of evidence and usage of higher time frames to reduce false signals. Harder to do in real time.
This is why silver miners are the better play in the early stages of a precious metals bull run.
Gold's daily Point and Figure chart has a confirmed breakout in November 2021. I annotated my lines in the sand.
Gold approaching a "yield-spread" defined bottom. Let's see if gold can move a head of top rail hit.