COMEX - SMART MONEY ANALYSIS [$2000 LONG-TERM]
Technical Overview: - GOLD $2000 TARGET🎆
Check out our previous posted analysis about XAU/USD
PREVIOUS WEEK ^
🎇Gold vs Dollar, Safe haven vs Inflation, limited supply vs unlimited supply
drop your technical analysis for a minute and think about the what happens in the world
The estimated price of all gold was $8.6 billion. The USGS reports that about 18,000 tonnes of gold remain undiscovered in the U.S.
with another 15,000 tonnes having been identified but not mined, in total estimate there is only a limited supply of gold after all.
On the other side, we have the Dollar which is being heavily printed and is losing it's value day by day.
When people want something and the government provides it, they basically print money to pay on behalf of the security needs.
The more the govt needs to do this, the more printing they need, which leads to devaluing the dollar and eventually inflation will need to take place, people will see prices rising even higher on gas, food, entertainment etc.
🎆People have tried the Roman Denarius.. it failed.
tried the Greek Drachmai.. it failed
tried the Zimbabwe Dollar.. it failed
tried the Dinar.. it failed
and currently trying the US Dollar..
Real truth is the world loves this golden nugget and is not going anywhere
🤫What do banks do and why?
Central banks sell hundreds of tonnes of every year but why? if gold is good why sell it? sounds dumb right? to keep you believing in currencies.
Former Chair of the Federal Reserve of the United States "Alan Greenspan" in testimony to congress (admitted) to manipulating the price of Gold.
he said "Central banks stand ready to lease gold in increasing quantities should the price rise" they suppress the price of gold purposely.
🛒 WHY IS PRICE THIS LOW?
Price was too high back in 2020 at the peak of $2000
This was clearly overbought and the people who rallied gold are institutional banks (retail traders can not move price)
This was a huge move in the market at the time, this was fueled by the fear driven in the world at that time (CODID)
Due to the fact that price was overbought, banks needed to close their positions and liquidate retailers who bought in while driving price lower to enter on cheaper prices, it's like two birds one stone, when you have money you have power and us retailers are powerless to the banks.
Matter fact, let's introduce you to.. Bullion Banks!
What are bullion banks?
It's an institution that sells gold with the hope of buying it back at cheaper prcie.
HTF - From a higher time frame (weekly, daily) price is still bearish
We are approaching oversold zones that has the potential to fuel us to the upside.
Using our overall target as $2000 we have this set in our mind to shape our outlook for the long run, not worrying about small moves.
We are in a pullback but we are also in a correction phase
Price moves in Impulse/Correction, understanding that from a HTF we just had the impulse we are caught in this bigger correction that we have are currently in and is being formed.
Last week we had fired few shots entering on previous buy zone marked, as this week price gets even more oversold which is a great sign of bullishness!
Smaller time frame -
We are waiting for price to ideally sweep previous lows and potentially tap into our lower buy zone, since price approached our new zone on Friday, we need to be aware of the new weekly cycle.
Use our analysis as a sentiment
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
Check out our previous posted analysis about XAU/USD
![COMEX GOLD - NEAR OVERSOLD AREAS [$2000 LONG-TERM]](https://s3.tradingview.com/e/eQ2VKl7J_big.png)
🎇Gold vs Dollar, Safe haven vs Inflation, limited supply vs unlimited supply
drop your technical analysis for a minute and think about the what happens in the world
The estimated price of all gold was $8.6 billion. The USGS reports that about 18,000 tonnes of gold remain undiscovered in the U.S.
with another 15,000 tonnes having been identified but not mined, in total estimate there is only a limited supply of gold after all.
On the other side, we have the Dollar which is being heavily printed and is losing it's value day by day.
When people want something and the government provides it, they basically print money to pay on behalf of the security needs.
The more the govt needs to do this, the more printing they need, which leads to devaluing the dollar and eventually inflation will need to take place, people will see prices rising even higher on gas, food, entertainment etc.
🎆People have tried the Roman Denarius.. it failed.
tried the Greek Drachmai.. it failed
tried the Zimbabwe Dollar.. it failed
tried the Dinar.. it failed
and currently trying the US Dollar..
Real truth is the world loves this golden nugget and is not going anywhere
🤫What do banks do and why?
Central banks sell hundreds of tonnes of every year but why? if gold is good why sell it? sounds dumb right? to keep you believing in currencies.
Former Chair of the Federal Reserve of the United States "Alan Greenspan" in testimony to congress (admitted) to manipulating the price of Gold.
he said "Central banks stand ready to lease gold in increasing quantities should the price rise" they suppress the price of gold purposely.
🛒 WHY IS PRICE THIS LOW?
Price was too high back in 2020 at the peak of $2000
This was clearly overbought and the people who rallied gold are institutional banks (retail traders can not move price)
This was a huge move in the market at the time, this was fueled by the fear driven in the world at that time (CODID)
Due to the fact that price was overbought, banks needed to close their positions and liquidate retailers who bought in while driving price lower to enter on cheaper prices, it's like two birds one stone, when you have money you have power and us retailers are powerless to the banks.
Matter fact, let's introduce you to.. Bullion Banks!
What are bullion banks?
It's an institution that sells gold with the hope of buying it back at cheaper prcie.
HTF - From a higher time frame (weekly, daily) price is still bearish
We are approaching oversold zones that has the potential to fuel us to the upside.
Using our overall target as $2000 we have this set in our mind to shape our outlook for the long run, not worrying about small moves.
We are in a pullback but we are also in a correction phase
Price moves in Impulse/Correction, understanding that from a HTF we just had the impulse we are caught in this bigger correction that we have are currently in and is being formed.
Last week we had fired few shots entering on previous buy zone marked, as this week price gets even more oversold which is a great sign of bullishness!
Smaller time frame -
We are waiting for price to ideally sweep previous lows and potentially tap into our lower buy zone, since price approached our new zone on Friday, we need to be aware of the new weekly cycle.
Use our analysis as a sentiment
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
Komentarz:
Prefer lower zone
Komentarz:
Komentarz:
