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A bigger ABCDE structure than gold suggests a potential bullish breakout
This is another angle on how I view the evolution of gold.
The price may be in the E wave of the ABCDE pattern.
After a sharp adjustment in the D wave, gold seems to be about to start a pulse soon.
I am not the only one surprised that gold prices are not rising as many institutions such as Goldman Sachs and other major brokers have remained silent on this muted reaction to the US attack on Iran.
Everyone may have seen the current situation. The news is getting worse and worse, and there is no room for further decline.
Even if we get a bigger drop, this will only happen to those who manipulate prices over the long term.
Gold is unlike other assets. It is a store of value, especially in times of war. The dollar is a safe-haven currency, but it is not a safe-haven asset like gold because it cannot absorb the inflation caused by war. Gold is used for this purpose.
So Gould will likely have to go further from both a technical and fundamental perspective. But we can never predict manipulation.
If you sell gold for 200 to 1,000 eggs, you cannot say that gold is very bearish. This is just taking advantage of a small stop loss in the trend and is therefore not part of the 4 hour analysis.
