Double top + Divergence = Looking to short with tight stoploss. Targets are 3 fibos and one left trailing.
Dear gold, you are also made of stardust. Please come up here and feel at home for a while. Then we can together go down to earth and shine like... gold! (I have no clue how to use these Gann boxes, if anyone has, please let me know :))
...it could make a bigass correction down, before bull continuation. Seems everybody is long but why does this look bearish to me? I know, follow the trend etc. We will see... Taking a short now but still long term long.
These are my 3 levels of interest in correction. We already broke one trendline and I believe we will break 1250 whereafter the bottom of the megaphone pattern combined with 0.382 Fibo (1235.89) is interesting. If that breaks I think it will need 1220 to get enough fuel for a rampage. Trade well and always calculate risk before trades :)
Drop form here and trendline bounce in gold relation would be a good combo. Related idea linked.
Has Trump heard about digitalization and robotization? How will these trends give back the jobs to US. Why would protectionim be good for US equities in a global economy? How could not signing TPP be good for US companies. Why are people buying equtities.
Pervious Golden Head & Shouders turned to a double top and fail to break above 1220 and now breakout from channel. Aiming at 1170isch.
Possible short term short with target to the green, line and long term long from there.
Depends a bit how you want to draw it. Yellow tight channel is my original which broke, but the purple could be more accurate. I think we have to as mr. Trump about this one! Im still long until purple trendline breaks down.
If nothing bigger changes, I will keep on buying all dips while in green area during January. White line is weekly downtrend channel top.