Patterns, they run the Forex market. We've heard people say that, and even that they repeat themselves.
This chart shows Gold on a daily time frame, as well as the exact pattern some time back in Gold. There were many like this, but I chose one that was as close as possible to this pattern. Does this mean Gold is about to drop? I don't personally consider myself qualified enough to answer that, especially with the recent Tariffs between US and China kicking in. However, it's interesting to see that other times we've had a pattern like this, Gold has dropped.
(The previous price action is the somewhat faded price action below current price.)
FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.
This chart shows Gold on a daily time frame, as well as the exact pattern some time back in Gold. There were many like this, but I chose one that was as close as possible to this pattern. Does this mean Gold is about to drop? I don't personally consider myself qualified enough to answer that, especially with the recent Tariffs between US and China kicking in. However, it's interesting to see that other times we've had a pattern like this, Gold has dropped.
(The previous price action is the somewhat faded price action below current price.)
FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.