Also a Crash at Gold Market? #Gold # XAUUSD

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On Rose Monday, 24.02.2020, the gold price in USD (ISIN: XD0002747026 / WKN: 965515) reached a very important mark almost exactly. Only just under USD 3 was missing at the important USD 1,692 mark. This means that the upward movement could have come to a standstill for the time and now the prevailing situation must be dealt critically. What is the assessment of the situation, do I continue to hedge my portfolio or do I take profits or do I sell everything and bet on cash?

In the picture you see 2 scenarios.

First scenario is in black an upward impulse as 12345 where the (3) is completed and now the (4) could already be running. After completion of the (4), new yearly highs will follow.

Second scenario is shown in brackets in pink. Here, on Rose Monday, the pink (C) and thus a superior B would be completed. This would result in a massive sell-off. Therefore I have closed my portfolio on Rose Monday and Tuesday with 2 exceptions.

So I am in the care mode

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Comentarios:

Lower Low. Thats not good!