GOLD - Next Top Coming Up
Gold is approaching a long term bear market extension; 1.618 Golden Window (1.618 - 1.786, $2796 - 3096).
And this month candle is quite a large one with a few days to go.
So its looking quite impulsive in this area...
If we look at the monthly RSI, it is approaching 81 and the previous peak was 84.
As we see time and time again, RSI often rhymes when it comes to major pivots.
With the RSI only a few points from 84 and price so close to the 1.618, these could be a BIG clue that a significant pivot is coming.
I'm not saying that a major downtrend will form, but it could do.
Another possibility is a higher time frame continuation pattern will print; perhaps this is the most likely outcome.
If that did happen, price may not fall too drastically but as RSI rhymes, it may take its sweet time and an extended correction would print before RSI falls back to the mid point from where the next wave up could begin.
We could be into 2026 or longer by the time that happens.
There is also the possibility that it will blast through and the a higher ratio (2.272) will be the telling significant ratio.
And that could happen, but I think it has to be at least equal odds or better, that doesn't happen.
Considering that and what other assets are currently available, you would have to really like Gold to hold on beyond the Golden Window (up to 1.786).
And if you really like the safe and steady game then that could be a good reason to simply hold.
There is nothing wrong with that.
But I'm playing the game of making hay while the sun shines ☀️.
And that game doesn't want to get caught up in long multi year corrections.
There's just too much great deep value discounts to buy elsewhere.
And Gold is very much not deep value up here.
That said, it may have a long way to go until any significant bear market which could be many years away and at much higher prices.
If it is consolidation rather than significant bearish action then it could open wide the door for other metals to pump.
I will be taking profit @ $2795 👍.
Not shorting.
Not advice.
And this month candle is quite a large one with a few days to go.
So its looking quite impulsive in this area...
If we look at the monthly RSI, it is approaching 81 and the previous peak was 84.
As we see time and time again, RSI often rhymes when it comes to major pivots.
With the RSI only a few points from 84 and price so close to the 1.618, these could be a BIG clue that a significant pivot is coming.
I'm not saying that a major downtrend will form, but it could do.
Another possibility is a higher time frame continuation pattern will print; perhaps this is the most likely outcome.
If that did happen, price may not fall too drastically but as RSI rhymes, it may take its sweet time and an extended correction would print before RSI falls back to the mid point from where the next wave up could begin.
We could be into 2026 or longer by the time that happens.
There is also the possibility that it will blast through and the a higher ratio (2.272) will be the telling significant ratio.
And that could happen, but I think it has to be at least equal odds or better, that doesn't happen.
Considering that and what other assets are currently available, you would have to really like Gold to hold on beyond the Golden Window (up to 1.786).
And if you really like the safe and steady game then that could be a good reason to simply hold.
There is nothing wrong with that.
But I'm playing the game of making hay while the sun shines ☀️.
And that game doesn't want to get caught up in long multi year corrections.
There's just too much great deep value discounts to buy elsewhere.
And Gold is very much not deep value up here.
That said, it may have a long way to go until any significant bear market which could be many years away and at much higher prices.
If it is consolidation rather than significant bearish action then it could open wide the door for other metals to pump.
I will be taking profit @ $2795 👍.
Not shorting.
Not advice.
Uwaga
Don't forget to BOOST / COMMENT if you'd like to see my output get higher in the TradingView lists 👍.
I had a little browse and I didn't see any other publishers with these technical considerations 🤔.
Zlecenie aktywne
Nearly there...Uwaga
Wow that 1.618 really did get front ran.
As I pointed out this is exactly what happened with Bitcoin in 2021
This is why it is important to take some profits early and not get too greedy.
I think perhaps the market makers knew that Gold is known for hitting fibs without too much fuss.
And probably trapped a lot of traders in making the front run change up.
Anyhow in terms of rotation, gold is now cooked and not really of interest anymore.
Even though it looks quite bearish here, the chances are it will at some point probe up to print Wyckoff UT and hit the 1.618 🧐.
Uwaga
GOLD
Is making a move on up here.
The yellow 1.618 @ $2795 is a very significant ratio that Gold has topped at in the previous major bull market.
So there is a reasonable chance that there will be a significant sell off if/when it gets there.
And it does look like it will get there.
There was a very steep sell off at the retracement Golden Window (0.618-0.786) and that might be a signal of what is to come when it hits the 1.618.
If there is a steep sell off at the 1.618 then this may be Wyckoff UT UpThrust - a slightly higher high.
This slightly higher high taps into higher liquidity without making significant price discovery and is a favourite move of the market maker.
It is possible that the 1.618 will prove to not be a significant ratio and that a higher ratio such as the 2.272 will trigger a sell off...
But I don't want to be a "sitting duck" so I won't be in a long position if/when it gets there.
For now this is a nice breakout and so I have added to my position here.
Uwaga
GOLD
Just hit my $2795 target.
The chart looks great and perhaps this goes up and up...
But this 1.618 @$2795 is very dangerous.
There may well be significant profit taking through this area 👍.
Your FA guru can't read a chart💭
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.