Bears Turn
Good luck all.
Facts:
- reached the top of a trendline that dates back to the 1980’s which I’ve seen other pros call the “1980’s battle-line” 👀 Monthly TF [log.]
- volume coincides with some braking power
- RSI seems pointy downward
- the 2015 trendline looks magnetic
- the weekly candle just closed 13th Dec speaks for itself - zoom for that one.
- the short term MA and FVG traders will be busy (or tired)
- the head and shoulders on that record high - you could frame that
- Wyckoff scout cracked through Ice
- as a ship on the trading seas then I would say this is a tack to the bear side, no rush though… see you in a few months/years? Patience probably for price to hit 2,150.
What could detract from golds appeal? Better opportunity cost elsewhere that gets faster returns? Could it get worse on the global political situation than it is right now really? Has the very recent (last 2 week) global escalations driven peaks beyond the high (no it hasn't)? Has the interest rate hype already been priced in? Is Trump lined up to do some deals that strengthen dollar and peace. make gold boring again?
Ah? Mmm...Shipsy.
⚓️ 🏴☠️ 🌊
Facts:
- reached the top of a trendline that dates back to the 1980’s which I’ve seen other pros call the “1980’s battle-line” 👀 Monthly TF [log.]
- volume coincides with some braking power
- RSI seems pointy downward
- the 2015 trendline looks magnetic
- the weekly candle just closed 13th Dec speaks for itself - zoom for that one.
- the short term MA and FVG traders will be busy (or tired)
- the head and shoulders on that record high - you could frame that
- Wyckoff scout cracked through Ice
- as a ship on the trading seas then I would say this is a tack to the bear side, no rush though… see you in a few months/years? Patience probably for price to hit 2,150.
What could detract from golds appeal? Better opportunity cost elsewhere that gets faster returns? Could it get worse on the global political situation than it is right now really? Has the very recent (last 2 week) global escalations driven peaks beyond the high (no it hasn't)? Has the interest rate hype already been priced in? Is Trump lined up to do some deals that strengthen dollar and peace. make gold boring again?
Ah? Mmm...Shipsy.
⚓️ 🏴☠️ 🌊
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