Wyckoff accumulation 2070 Daily Channel
This my main long term perspective on gold's loooong descending channel since 2070.
In my view, this is just an over-extended bearsqueeze due to the strengthening Dollar Index which would ultimately reach 120 soon, and ultimately peak.
Market Makers are bullish overall and choosing to extend price action for as long as it needs to, and exhausting off as many sellers from the market as possible in the process to secure a decisive break out to the upside.
In my view, this is just an over-extended bearsqueeze due to the strengthening Dollar Index which would ultimately reach 120 soon, and ultimately peak.
Market Makers are bullish overall and choosing to extend price action for as long as it needs to, and exhausting off as many sellers from the market as possible in the process to secure a decisive break out to the upside.
Nota
Today on 4th of October, the 7 months channel was broken, which effectively initiates phase E of our Accumulation. Bare in Mind those phases can have the potential to hold a distributive element, and provide a bearish continuation long term. Let's see where that element lies. Right now I am seeing a supply grab around 1865 area.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.