Long

GOLD (XAUUSD) All Time's High AHEAD!!!

hey guys,

it looks like gold has successfully violated the 2011's/2012's highs and closed above them.
now it is quite probable that the price will manage to reach all time's 1919.0 high soon!

here, just with ATR indicator we will try to assess how much time it would take for the market to reach the above-mentioned level.

for the last 12 months, the ATR is 98.
the distance between a current price level and the high is 115.1.
just making a simple calculation we may get that 1.5 months will be enough to reach the high.

the only obstacle might be a consolidation.
during autumn 2019 we had a 4-month consolidation cycle.

so it looks like we will be there quite soon.

we can never predict with 100% accuracy the time horizon.
however, ATR and price action analysis may help us to make at least approximate calculations.

p.s it is not a buying recomendation.
I just share my thoughts and calculations with you :)

VasilyTrader

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