It's quite interesting exercise to check past patterns
if it is applicable to the current price structure
I scrolled back to distant 2011 where the gold peaked around $1,900,
copied the structure from there and pasted to the current peak
I fitted the bar pattern (faded blue bars) with tops and bottoms
It looks similar to the current structure as extremes align almost perfectly
It also matches with the map I posted earlier last week with bit more volatility
if it is applicable to the current price structure
I scrolled back to distant 2011 where the gold peaked around $1,900,
copied the structure from there and pasted to the current peak
I fitted the bar pattern (faded blue bars) with tops and bottoms
It looks similar to the current structure as extremes align almost perfectly
It also matches with the map I posted earlier last week with bit more volatility
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.