DislikedIn May 1951 there was a top in the commodities markets, gold, silver, corn wheat,soyabeans all collapsed. We ar 60 years from that point and that is a Gann cycle. Now, silver tanked recently, gold is off its high and the AUDUSD looks like someone gave it a punch on the nose.
Is this the top, only time will tell. Should you be careful here, yes because even if the cycle is wrong, caution is a valid outlook in the markets, for me the AUD will have to prove it wants to go down, by doing it.
As look as it goes up its for buying.
Good trading...Ignored
When I look at fundamental data for say corn, the fundamentals do not match previous tops in corn. I think there is still a long way to go in this cycle.
Then take sugar for example. It is still 60% below its all time highs, nominally, and when we adjust for inflation, its very depressed. No bubbles end with prices still well below all time highs. They end with prices many multiples above previous highs.