Marketmechanics
Market Vs Gold - MYTH BUSTEDAfter Russia started the invasion of Ukraine on 22-Feb-2022, Nasdaq increased 17% and then fell 31% (until 10th Oct 2022)
Precisely during the same date range, Gold rose 9.75% and then fell 21.94% - in Sync with Market
Similarly, once Israel Hamas war started on 7th Oct 2023, Nasdaq had a mourning for 2 days (fell down) and then had no stop rise of 47%
During the 2 days of "Mourning" - Gold rose for 2 days, then fell for 2 days and then rose 35% until 15 Jul 2024
Both Market and Gold Fell down together and Went up Together forming a beautiful Rounding Bottom Breakout
Then How are we saying Gold is a Safe Haven and when Markets Tumble, Gold will increase ????
Who is propagating this misinformation? And we have been blindly believing these Guys without doing our own Analysis for ages
These might have the fact during the World War II era or late 20th Century... But Grow up - the market is not the same 1 Century ago
Learn what is the Current Trend and Follow it. First thing - UNLEARN the Baggage that each of you are carrying (Traditional Knowledge which is no longer valid)
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75: Silver Analysis: Is it Lagging Behind Gold?Silver, often considered the "poor man's gold," has been under scrutiny lately as it seems to lag behind its more illustrious counterpart. Traders and investors are closely monitoring silver's behavior relative to gold, seeking potential opportunities amidst this divergence. Let's delve into the technical analysis to discern potential trading scenarios.
Currently, silver is hovering around the $24 mark, displaying a notable gap in performance compared to gold. This gap prompts us to consider whether silver is presenting a buying opportunity or if further downside is expected.
Long Entry Points:
Primary Entry: A compelling long entry presents itself around $23.37, where historical support levels align. This level could serve as a strong base for a potential bullish reversal.
Secondary Entry: For more conservative traders, a secondary entry around $20 offers an additional opportunity. This level provides a wider margin of safety but may require patience as price action stabilizes.
Potential Scenarios:
Bullish Continuation: If the support at $23.37 holds firm, we anticipate a bullish continuation towards $30 and beyond. This scenario would validate the long positions and affirm silver's potential to catch up with gold.
Bearish Breakdown: However, if $23.37 fails to hold, a deeper retracement towards $15 becomes a possibility. Traders should closely monitor price action and consider implementing risk management strategies to mitigate potential losses in such a scenario.
silver's divergence from gold presents both challenges and opportunities for traders. With long positions eyed around $23.37 and a secondary option near $20, traders can capitalize on potential bullish reversals. However, vigilance is crucial, as a failure to hold support may result in further downside towards $15. Ultimately, a successful hold at support levels could pave the way for a rally towards $30 and beyond.
As always, traders are advised to conduct thorough research, manage risks prudently, and adapt to evolving market conditions. Stay tuned for further updates as we navigate through the intricacies of the market. Happy trading!
$ETH 💎💎💎I'm seeing a diamond pattern on $ETH. From my knowledge where diamonds enter they in most cases exit. I still think there is a small possible bounce to the highlighted circled area around the 1770 area then down. My thought is that the price target down is between the 2 green horizontal lines at 1650-1625 area with a possible extension down to the 1580 area. Why I say the possible extension is that is where the last real push to its current price came from and before the market moves to new destinations whether higher or lower it usually retest old break outs. I will go further into my future thoughts after this move is completed. If it plays out exactly I think we may have a nice move before things possibly get nasty again.