THE TREND IS YOUR FRIEND - ATH 3K SOONER THAN LATER...
As illustrated, I'm trying yo visualize the first couple of weeks of FEB.
If things go according to plan, the market should hold its uptrend as it has shown in a healthy and appropriate manner; in other words, respecting key pivot areas, major trendline, demand areas, and so on.
The market structure we are seeing, brings back memories of last year's SEP + OCT + NOV bullishness, where gold just kept rising to higher highs with momentum and steady buying volume.
On a fundamental aspect, the tip of the iceberg starts with the USA GOV confirming a 25% tariff sanctions on MEX & CAD; this doesn't really help much with geopolitical tensions, nor does it pave a "safe path" toward bringing inflation down, since inevitably the consumer market will have to (sooner or later and any other way) pay for such increment in prices; it's just logical. Any company that is getting charged such absurd tariffs MUST SIMPLY RAISE PRICES or stop negotiating with the US... (you be the judge of that one).
Gold continues to have key circumstances that increases its safe heaven demand in times of this degree of uncertainty worldwide.
That being said, THE TREND IS YOUR FRIEND!
Look for buy setups on key days of the week.
MON-TUE = LOW OF WEEK ;
WED - THU = EXPANSION ;
FRI = REVERSAL / CONSOLIDATION
--
GOOD LUCK!
If things go according to plan, the market should hold its uptrend as it has shown in a healthy and appropriate manner; in other words, respecting key pivot areas, major trendline, demand areas, and so on.
The market structure we are seeing, brings back memories of last year's SEP + OCT + NOV bullishness, where gold just kept rising to higher highs with momentum and steady buying volume.
On a fundamental aspect, the tip of the iceberg starts with the USA GOV confirming a 25% tariff sanctions on MEX & CAD; this doesn't really help much with geopolitical tensions, nor does it pave a "safe path" toward bringing inflation down, since inevitably the consumer market will have to (sooner or later and any other way) pay for such increment in prices; it's just logical. Any company that is getting charged such absurd tariffs MUST SIMPLY RAISE PRICES or stop negotiating with the US... (you be the judge of that one).
Gold continues to have key circumstances that increases its safe heaven demand in times of this degree of uncertainty worldwide.
That being said, THE TREND IS YOUR FRIEND!
Look for buy setups on key days of the week.
MON-TUE = LOW OF WEEK ;
WED - THU = EXPANSION ;
FRI = REVERSAL / CONSOLIDATION
--
GOOD LUCK!
Note
Price reached and respected perfectly our area of buying interest.
If you followed this idea, congratulations.
SECURE PROFITS as RULE #1!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.