XAU THE COLLAPSE/RETRACE : TIME TO QUIT BUYING
i expect it to start at one of the 2 points and end at one of the levels below rationally speaking maybe an 8% decline
the rally might lead to a crash/retracement depending on whatyou call a crash 8%,25% idk. firstly what lead to this increased activity in gold
central banks demand
The growth was wild this year fueled by a race for dominance among currencies
as the dollar poses more uncertainity and trust (the premise of money in this confidence game)
regional conflict
Wars oh welp buy gold
fed policy pivot
jerome powell .................
overbought and a lot of buyers are gonna be cashing in their profits but increased mining activity as the worlds scours for whatever gold they can buy so still a whole lotta room to run
the rally might lead to a crash/retracement depending on whatyou call a crash 8%,25% idk. firstly what lead to this increased activity in gold
central banks demand
The growth was wild this year fueled by a race for dominance among currencies
as the dollar poses more uncertainity and trust (the premise of money in this confidence game)
regional conflict
Wars oh welp buy gold
fed policy pivot
jerome powell .................
overbought and a lot of buyers are gonna be cashing in their profits but increased mining activity as the worlds scours for whatever gold they can buy so still a whole lotta room to run
Note
expect resistance at the following points as time progresses ill add more
Note
2611 stronger retracementNote
Note
i said strong retracement on 2611 so im hedgeing against the shortNote
said im long on 2611 we caught it double bottom we tanking again baby
Note
2762 is my new shortNote
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