IMHO you need to be clear on your parameters. A trader is not an investor and vice-versa. You need to work out your timescale for trading and adjust your view accordingly.
For example for longer term or swing trading suggest you look at the last two years daily rsi, stochastics and macd - all of which are currently massively oversold. Also look at how gold has bounced off 150 day MA over the same period...Obviously it's not what you need to do if you are trying to trade a 20min chart. Trading is about trying to take the variables out of a market so that you can enter a trade with a better probability of success. Those indicators are saying to me that if we haven't bottomed already in gold on a daily basis - then the likelihood is that the bottom is not far away and that the move up will be consequently greater and faster - a bit like stretched elastic......
beeb
For example for longer term or swing trading suggest you look at the last two years daily rsi, stochastics and macd - all of which are currently massively oversold. Also look at how gold has bounced off 150 day MA over the same period...Obviously it's not what you need to do if you are trying to trade a 20min chart. Trading is about trying to take the variables out of a market so that you can enter a trade with a better probability of success. Those indicators are saying to me that if we haven't bottomed already in gold on a daily basis - then the likelihood is that the bottom is not far away and that the move up will be consequently greater and faster - a bit like stretched elastic......
beeb