Long gold. Fibonacci levels and interesting wick...
https://www.tradingview.com/chart/Uv4oNJNy/
The following chart describes the Fibonacci levels that are current. The green boxes identify similar consolidation pattern.
November 25th 2014 was the time of a flash crash as per data found. It is also around the time SPX started forming a round top.
Use IDC feed to see the long wick marked here with red arrow, date 25th of November 2014. It is a scar left by that flash crash however short it was, it triggered a buy algorithm that made the candle go to that level. I suspect it was quickly brought down.
That wick effectively punctured several Fibonacci levels.
Gold is now reacting on fear and if I am correct, will no longer go down with SPX. A key psychological barrier has been breached.
The following chart describes the Fibonacci levels that are current. The green boxes identify similar consolidation pattern.
November 25th 2014 was the time of a flash crash as per data found. It is also around the time SPX started forming a round top.
Use IDC feed to see the long wick marked here with red arrow, date 25th of November 2014. It is a scar left by that flash crash however short it was, it triggered a buy algorithm that made the candle go to that level. I suspect it was quickly brought down.
That wick effectively punctured several Fibonacci levels.
Gold is now reacting on fear and if I am correct, will no longer go down with SPX. A key psychological barrier has been breached.
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