Gold might be on the brink of a major drop
I'm here to scoop up some spot
Core assessment:
The moving averages are about to form a death cross
The minor structure continues to slide down
The trend line has been effectively suppressing
Among these three, the most critical is the moving averages forming a death cross
The last time a death cross formed during a bull market consolidation was in '13
After that, gold dropped all the way into a bear market lasting about five years
Perhaps we are on the eve of something similar
If it forms
Gold will only have two types of movements
One is an oversold rebound
The other is a continuous choppy decline
The judgment is made
What's important is whether there’s an opportunity to short
I’m waiting for some signals
If I go long, I will only scoop up spot around 3400-3600
Not using leverage for now
I’ll explain in the next post why I’ll be looking to buy in this zone!
#XAU
I'm here to scoop up some spot
Core assessment:
The moving averages are about to form a death cross
The minor structure continues to slide down
The trend line has been effectively suppressing
Among these three, the most critical is the moving averages forming a death cross
The last time a death cross formed during a bull market consolidation was in '13
After that, gold dropped all the way into a bear market lasting about five years
Perhaps we are on the eve of something similar
If it forms
Gold will only have two types of movements
One is an oversold rebound
The other is a continuous choppy decline
The judgment is made
What's important is whether there’s an opportunity to short
I’m waiting for some signals
If I go long, I will only scoop up spot around 3400-3600
Not using leverage for now
I’ll explain in the next post why I’ll be looking to buy in this zone!
#XAU