Is GOLD following THIS patten? Detailed overview!
The accumulation of GOLD continues for more than 600 days. Right now we are in the handle stage of the Cup and Handle pattern. On the breakout of the wedge we can open long positions and the entry point should be looked for on the lower timeframes!
According to this pattern, the price should rise by 24% to the $2,500-2,600 zone. But after such a long accumulation, the price can reach even $3,000!
Gold is a protective asset and it is bought before or during global instability. Does this mean that the markets will collapse soon? Of course not, but we should pay attention to such patterns. Especially on the patterns of the higher timeframes (1W, 1M)!
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
According to this pattern, the price should rise by 24% to the $2,500-2,600 zone. But after such a long accumulation, the price can reach even $3,000!
Gold is a protective asset and it is bought before or during global instability. Does this mean that the markets will collapse soon? Of course not, but we should pay attention to such patterns. Especially on the patterns of the higher timeframes (1W, 1M)!
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
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