Already since 2000 BC Gold was mined in Egypt and the first gold coin was sold in 50 BC . Coined in Rome. This shows that people have always been fascinated by gold , its rarity, constancy and beauty.
In short - gold has an incredibly long and successful history and is still considered as a rock in the surf. Even if Warren Buffett disagrees here.
Although gold is totally innovationless. But the precious metal is still considered the safe haven. And who knows what Pandora's box will be opened tomorrow?
The fuse seems to burn from Bitcoin over Iran to North Korea. The global uncertainties seem to increase rather than decrease. Is this the start of a possible gold rally?
There could be possibilities.
What say the methods I use?
The risk management tool used here is the own-developed “Traffic Signals System” ( TSS ) and it is implemented in my analyses.
The black line in the chart: the starting price of the idea is 1323.13 US-Dollar.
The red line in the chart: the stop loss is lying at 1290 US-Dollar. This represents a risk of around -2,51 percent.
The green line in the chart: here for me the first further turning point in the idea = first goal at about 1350 US-Dollar. That was the last high in September 2017. Here could be a resistance and a further turning point.
Oscillator: The of gold is clearly in the overbought zone of about 90. This could lead to short-term profit-taking.
Trend indicator: The remains positive.
The trend (green arrow) goes clearly north. It started in the mid-December 2017.
Gold is in great demand again! Can the precious metal copy the bitcoins? Or better, why it shouldn’t be the next bitcoin as soon as the demand of safety will increase? Stay up to date on this idea!
The first idea this year …
Main parameters of the idea:
Start of the idea: $1.323,13
Recent stock price: $1.323,13 (+0,00% from the Start of the idea)
Stop-Loss of the idea: $1.290 (-2,50% from the Start of the idea)
Take Profit of the idea: $1770 (past highs of 2012)
This idea has been running since 4 January 2018
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"The trading ideas published here are neither to be understood as a recommendation nor as an offer or an invitation to buy or sell financial instruments and should not be understood as such.
You must also assume that the author holds the recommended position in his portfolio and benefits from the implementation of his trading ideas.”