#Gold $XAU

At the beginning of the year, after paying off some debt, my dad invited me to buy #Gold but I didn't listen, when the price was at 4k6. For a technical analysis enthusiast like me, right after the new year candle and before any adjustment or establishing a support level, I only saw risk, thinking it would drop to 43, 41, or even 3X before reversing. When the elders wanted to cut losses, I didn't know how to persuade them. Should I bring out three technical analysis tools to train them or tell them the egg teaches the duck? 😄

Anyone who has been trading for a while knows that large-cap assets like gold, $Btc , tend to follow very precise technical patterns, with little deviation. And 5k4 is a strong profit-taking level ( where many assets have hit all-time highs here and never went higher again ), so most investors will exit at least 50% of their holdings at this point. The day before the God of Wealth's day, seeing that it was unlikely to go much higher, I also took the pair of earrings I bought for my mom years ago (, which she didn't wear ), and gave her the money so she could buy another pair whenever she wanted.

Currently, one thing that worries me is this: since gold moves very accurately according to technical analysis, when the price broke above 5k4 to 5k6, it’s quite possible that this isn’t the all-time high of gold yet. But after another run up to now, fundamentally, that 5k6 wick is a trap wick (, clearly visible on the weekly chart ). Then the price pulled back to 5k4 before rising again like now => The question is: has gold already peaked? When it first hit 5k6, I dared say not yet, but now, whether acting confidently or pretending to be confident, I’m no longer sure 🫠

Gold isn’t scarce at all; in fact, it’s enough to cover about 0.5 million square meters of the Earth's surface in a different way. The problem is, we still can’t access it, or even touch it. Maybe poverty has limited my daring spirit, so now I no longer crave anything; I just want to grow vegetables, raise dogs, live peacefully, and wait patiently for the right time. Perhaps even waiting for the next life, I still won’t see it.

P.S.: Looking at the three monthly candles, doesn’t it resemble the BTC 6M chart from before? Another example of the 234 wave pattern you mentioned. It’s already close to today, but still refuses to remember, so be it.