Loading ...Gloom and Doom ?
OK…I think collectively we have gotten too far ahead of ourselves .
Many are trying to plot out the whole roadmap for this year and beyond.
BUT…slow it down please.
Take stock of what has happened in the Gold Chart This Year !
It has had a terrific move. 2 legs up with a healthy consolidation .
Now the inevitable retest of that fabulous $1300 breakout.
No Indicators No Moving Averages. Nothing but Price. Looks Great !
KISS
“Many are trying to plot out the whole roadmap for this year and beyond.
BUT…slow it down please.
Take stock of what has happened in the Gold Chart This Year !”
What time horizon do you suggest? I try to look out at least 2-3 months for trade entries.
And of what significance is what gold has done in the recent past? That’s rear view mirror trading. And its mostly sideways since late winter anyhow. I don’t care what something has done … I care where its at in the rinse wash repeat cycle.
I can’t anticipate crazy ivan’s. But I can extrapolate from the position and direction that my LT charts are pointing.
And that’s where I start from.
Not a trader, or even a technician (Still trying to learn/absorb/test what I see others posting), but it seems that as everything around us speeds up, (technology cycles, news cycles, fads, generational shifts, etc.) there is less and less patience to analyze and then see an idea through. Speed is the name of the game now. The first to know and react gets to profit, and then moves on to the next hot thing. I think there’s real money to be made by waiting for some of the longer trends and cycles to bear fruit. I’m very interested in the long term and making sure I’m on the right side of a trend. I heard it said that in investing, patience is a superpower.
Gold is now fair market value in $USD just my opinion.
The NK factor has now deflated.
China Russia thru NK just called out the US and the nothing happened nothing is going to happen unless China agrees to it. So where does that leave us.
1 The Petrodollar is losing some of its control
2 Trump wants a lower USD
3 The Fed wants to reduce its balance sheet
4 The debt ceiling limit is weeks away
5 Venezuela is now poking the Bear with the Yuan Oil contract
6 Obamacare will not be repealed
7 Tax breaks are not coming
I think I’m going to be buying the dip this week
Collectively? Not sure about that.