Will be an interesting juncture coming up, with the London and NY sessions. I wonder which way it will go (below is the 1hr Chart)
The main structure of gold to me looks like it could be a topping 5th wave, within a 5th wave. So maybe gold was in a bubble too? See chart below.
The COT also supports this.... they are all out of buying ammo.....can all they do now is short gold?
Isn't the trick to trading to buy low and sell high? Is this exactly what we are seeing, is everyone in denial about the gold price going to the moon?
Thoughts would be appreciated, as I don't see many thinking along these possible lines?
