BEAR TRAP?
As illustrated, Im trying to visualize what could have been a bear trap.
Price actually consolidated at the ATH level, instead of selling off like it has done in the past when liquidating massively...
That behavior goes against "usual" patterns of selling, which leads me to believe that the obvious won't be that easy.
Until the market proofs otherwise, I don't trust the slight drop / reaction the market had after reaching ATH.
If this scenario plays out, I believe ASIA will do the dirty work of taking everyone out when they sleep in America's; potentially reaching psychological prices of 2950 - 2070 range with the help of LONDON.
Maybe then NY would look for a sell-off. MAYBE... because keep in mind we are coming from a very strong rebound on Monday after a sell-off that already took place ...
Of course, the market could consolidate once more how it did toward the end of 2024; however, the circumstances with TRUMP'S economic agenda is, as a matter of fact, giving gold more strength than ever before since its safe heaven demand just keeps increasing...
..
GOOD LUCK!
Price actually consolidated at the ATH level, instead of selling off like it has done in the past when liquidating massively...
That behavior goes against "usual" patterns of selling, which leads me to believe that the obvious won't be that easy.
Until the market proofs otherwise, I don't trust the slight drop / reaction the market had after reaching ATH.
If this scenario plays out, I believe ASIA will do the dirty work of taking everyone out when they sleep in America's; potentially reaching psychological prices of 2950 - 2070 range with the help of LONDON.
Maybe then NY would look for a sell-off. MAYBE... because keep in mind we are coming from a very strong rebound on Monday after a sell-off that already took place ...
Of course, the market could consolidate once more how it did toward the end of 2024; however, the circumstances with TRUMP'S economic agenda is, as a matter of fact, giving gold more strength than ever before since its safe heaven demand just keeps increasing...
..
GOOD LUCK!
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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.