The Golden triangle of GC
I strongly believe that everything in the world is driven by MATHS (the golden ratio) including traded markets, we can notice similar patterns that are repeated very frequently in every chart. For the GOLD futures, it's driven by THE GOLDEN TRIANGLE!!
- Before going to the technical analysis, i should mention the old adage that says: "Gold loves a crisis". After the announcement of the FED about the interest rates that will be kept near zero untill 2022, the gold will be seen as a safe heaven more than ever, so we may see a huge rise the following two years on the price of Gold.
- Firstly the red dotted line keeps increasing it's angle with increasing the volume since 1976.
- The green line is a support for approximately all the bullish trend of GC
( you can go back on the analysis chart to see the red line and some of the green lines beacause i still don't have a
premium account to post screenshots)
- The golden triangle is the pattern that governs the majority of GOLD movements, you can simply move this triangle along the chart in all time frames and you will see that same triangle with same angle is valid for GC even in the last bullish trend between 2009 and 2011.
(you can see some of them on the analysis chart from 2009 and 2011)
- The price gets compressed in the last blue triangle, there is a large chance that the price will break the first black horizontal line. If it happens between the two arrow markers, the price can jump to at least the 50% of fibonacci extension which is the best scenario or just retest it's all time high, there is also a possibility to go back and retest the red dotted support.
WE SHOULD WATCH GOLD'S PRICE AND BUY ABOVE THE BLACK LINE OR SELL AT THE BOTTOM OF THE TRIANGLE.
If u liked this technical analysis vision give it a like & follow . Your comments also are very welcomed.
- Before going to the technical analysis, i should mention the old adage that says: "Gold loves a crisis". After the announcement of the FED about the interest rates that will be kept near zero untill 2022, the gold will be seen as a safe heaven more than ever, so we may see a huge rise the following two years on the price of Gold.
- Firstly the red dotted line keeps increasing it's angle with increasing the volume since 1976.
- The green line is a support for approximately all the bullish trend of GC
( you can go back on the analysis chart to see the red line and some of the green lines beacause i still don't have a
premium account to post screenshots)
- The golden triangle is the pattern that governs the majority of GOLD movements, you can simply move this triangle along the chart in all time frames and you will see that same triangle with same angle is valid for GC even in the last bullish trend between 2009 and 2011.
(you can see some of them on the analysis chart from 2009 and 2011)
- The price gets compressed in the last blue triangle, there is a large chance that the price will break the first black horizontal line. If it happens between the two arrow markers, the price can jump to at least the 50% of fibonacci extension which is the best scenario or just retest it's all time high, there is also a possibility to go back and retest the red dotted support.
WE SHOULD WATCH GOLD'S PRICE AND BUY ABOVE THE BLACK LINE OR SELL AT THE BOTTOM OF THE TRIANGLE.
If u liked this technical analysis vision give it a like & follow . Your comments also are very welcomed.
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