A cypher pattern is in making
已更新
Some Key factors 🔑 that can affect the price of gold 💰:
Inflation: Gold 💰 is often seen as a hedge against inflation 🔥, as its price tends to rise ↗️ when inflation 🔥 is high. This is because gold 💰 is a finite resource 💎 that cannot be inflated away 💨.
Interest rates: When interest rates 💴 are low, gold 💰 becomes more attractive as an investment, as investors can earn a higher return 📈 by holding gold 💰 than by holding cash 💵 or other low-yielding assets 🥱.
Economic growth: Gold 💰 is also seen as a safe haven asset during times of economic uncertainty ⚠️. When economic growth 📈 is weak or negative ⬇️, investors may flock to gold 💰 as a way to preserve their wealth 💰.
Geopolitical events: Gold 💰 can also be affected by geopolitical events 💥, such as wars ⚔️ or political instability ⚠️. These events can cause investors to worry about the safety of their investments 💰 and flock to gold 💰 as a safe haven.
The overall trend looks a part of a cypher pattern where XABC has already formed and the last point D is be confirmed.
On The daily chart it is forming a downtrend channel which indicates a weakness
On weekly basis, its currently trading below 20 EMA (1932), a first sign of weakness in bigger time frame.
If a cypher pattern is formed, we can see a 1715 levels by 12th Feb'2024
We will keep a close track and update
Inflation: Gold 💰 is often seen as a hedge against inflation 🔥, as its price tends to rise ↗️ when inflation 🔥 is high. This is because gold 💰 is a finite resource 💎 that cannot be inflated away 💨.
Interest rates: When interest rates 💴 are low, gold 💰 becomes more attractive as an investment, as investors can earn a higher return 📈 by holding gold 💰 than by holding cash 💵 or other low-yielding assets 🥱.
Economic growth: Gold 💰 is also seen as a safe haven asset during times of economic uncertainty ⚠️. When economic growth 📈 is weak or negative ⬇️, investors may flock to gold 💰 as a way to preserve their wealth 💰.
Geopolitical events: Gold 💰 can also be affected by geopolitical events 💥, such as wars ⚔️ or political instability ⚠️. These events can cause investors to worry about the safety of their investments 💰 and flock to gold 💰 as a safe haven.
The overall trend looks a part of a cypher pattern where XABC has already formed and the last point D is be confirmed.
On The daily chart it is forming a downtrend channel which indicates a weakness
On weekly basis, its currently trading below 20 EMA (1932), a first sign of weakness in bigger time frame.
If a cypher pattern is formed, we can see a 1715 levels by 12th Feb'2024
We will keep a close track and update
交易進行
1960 if crosses then the pattern will become invalid註釋
Downside pressure continues交易進行
Downside pressure continues交易進行
1858 low made, almost 4 % plus down交易進行
gold cracked heavily, made a low of 1846, weakness still continues, we can see more fall in this交易進行
weakness continues, made a low of 1815, almost 6 % plus correction , enjoy the ride交易進行
some pullback is expected as it touched the lower channel bottom交易進行
as expected gold bounced to 1865 levels
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