#Gold $XAU

At the beginning of the year, I had a little debt to pay off, so my dad invited me to buy #Gold, but I didn't listen. At that time, the price was around 4.6k. For a technical analysis enthusiast like me, right after switching to the yearly candle, before I could even set a proper support point, all I saw was risk. I thought it would drop to 4.3k, 4.1k, or even into the 3X range before bouncing back, but whenever the elders wanted to cut losses, I didn't know how to advise them smoothly. Should I bring out three technical analysis books to train a whole class, then tell them to teach the old folks a lesson? 😄

Anyone who has traded for a long time knows that large-cap assets like gold, $Btc usually follow very precise technical patterns, with almost no significant deviations. And 5.4k is a strong profit-taking level, (where many assets have hit all-time highs and never reached again afterward, ) so most investors will exit at least 50% of their holdings at this point. The day before the God of Wealth festival, I saw it was unlikely to go much higher, so I also sold the pair of earrings I bought for my mom years ago, (which she didn't wear, )and gave her the money—5.3k—so she could buy another pair whenever she wanted.

Currently, one thing that makes me a bit uneasy: since gold moves very precisely according to technical analysis, when the price broke through 5.4k and rose to 5.6k, it’s very possible that this wasn’t the all-time high of gold yet. But after running through another cycle up to now, in essence, that 5.6k wick was actually a trap wick, (which is very clear on the weekly chart, ) and then the price pulled back to 5.4k before dropping again. So the question is: has gold already hit its peak? When it first rose to 5.6k, I dared say it hadn’t yet, but now, with all this flip-flopping, I’m no longer confident either 🫠

Gold isn’t scarce; in fact, there’s enough to cover about 0.5 meters thick across the entire surface of the Earth and beyond. The problem is, we currently can’t access it, or rather, we can’t reach it. Maybe poverty has limited my daring spirit, so now I don’t care much anymore—just want to grow vegetables and raise dogs peacefully, quietly waiting. Perhaps even waiting until the next life and still not seeing it.

P/S: Looking at the three monthly candles, doesn’t it resemble the BTC 6M chart from back then? Another example for the 234 pattern you guys keep talking about. It’s already reached this point, and still, it refuses to remember—that’s just how it is.