Assessing Gold's Direction Through Asia Tuesday 10 Sept.

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Gold & the way it moves reminds me of the famous Pacman-game of the 1980s. Those were the days because not many of us were forward thinking enough to see and look into the future about how incredible gaming would become. We were happy with games like pacman and space-invaders.

I get all the 'gaming' I need from Trading the markets.

Please see my chart. It is possible that Gold will dip as it is moving in a rising wedge and right at the top right corner golly-gosh would you believe, which means Pacman may want to head south and chew up some Stops. After all it is nearly lunchtime in Australia presently, Later.

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Ghi chú

I think the likely scenario is a retrace to the first SUPPORT ZONE.
Sorry, I don't mean to scare anyone.

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Ghi chú

Perhaps the good news is that Gold during the Asian Tuesday trading-day so far, has not sold-off in a retracement down, so price is holding up okay as I write this publication.

Attached is the latest chart for the USDX. I think what's worth noting is that back on 3 September, USDX price-action had almost passed through this resistance zone that it is currently facing, when it got up to the 101.85 price level.

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Hmmm, what do you notice on first glance at this chart (without opening it up)?

Hmmm, yes another Bullish W-BOTTOM.

This dear reader, when 101.85 is tested again very soon, will cause an immediate rally in the USDX, a sudden impact which will be disastrous for the Gold-price. That's right, back under 2500 again for the up-teen time.

Regards,
Chris

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* It's a possibility, only. Not to be taken as certain financial advice.

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* Did you know that all this accumulation & changes in so many hands of the buyers and sellers, previous holders / new holders of Gold, physical or contracts; well it is causing a hidden dynamic of energy & pressure in the Gold price, that will see it's price absolutely thump to the heavens in 10 days time. Those who have accumulated & taken onboard that risk in Gold, will be the true winners.

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* My own thoughts purely on the Gold-price.
* Please don't take these comments as being correct, or any form of financial advice.

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Giao dịch đang hoạt động

* A strategy I am adopting from now going into FOMC meeting Thursday week. See below.
(This strategy that I am using & used by many, but this is NOT financial advice on what you should be doing. This strategy carry's risk and more potential losses.

The strategy is simple. For the next 10 days I am buying small parcels of Gold & Silver and accumulating on Gold-price weakness.
What are the advantages to this strategy?
Compounding profits and accumulation adding to much greater gains in profit. But only if the Gold price does in fact go up next week when I think it will considerably.

* This is education. Not intended as financial advice on what you should do. DYOR.
easy_explosive_trading

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* Many traders who adopt this strategy will adopt a very, very loose stop-loss to protect them from blowing an account.

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Đã hủy lệnh

TRADERS,
I no longer recommend the above strategy.
I have good reason to believe that the US Dollar is about to break out in a big way. I mean big. Huge.
It is too risky accumulating Gold at present.
I will write a publication about this soon.