DislikedFinally we have broken the the past weeks range!!! We have now broken the upper trendline of the downward channel present on XAU/USD daily chart. Returned risk appetite and Euro (although trapped in range) recovery from sub .3000 have helped add to the flame! Taken a few days off XAU while focusing on cable besides one long TP hit. Now, with some ease on Cable on Fibre I will be watching this area closely and looking to get long on pullback. Or just hop on and ride. If breakout sustains I will look to target 1150/60 area next Currently we are paused...Ignored
This is what and how Gold reacted the last time it made a new ALL TIME HIGH... I even pulled the chart for you all.
Notice the Low of lows is sub 1000 and the high is +1200s.
So I ask anyone who throws out a call like: these are just a few.
@ 1425 "gold will hit 1100 tomorrow"
@ 1050 "we are going to 400 within the next sessions" Then we hit 1900+ lol.
@ 1380 recently "we will see sub 800 soon" ok well hows that working so far?
@ 1900 "we will see sub 1050 soon" - never happened. Not even sub 1100 yet.
BTW: anything sub 1050 is a buy hand over fist. Learn how to trade the weekly,
and yes "ST" their are people that trade the weekly that are not "investors"
In a matter of a SLOW (10 years) time in the scheme of financial instruments Gold has over x 5d itself in value PLUS, before pullback,
has the DOW or THe S&P or the USDX or any market besides silver done so?
NO. The answer remains NO. And it doesn't matter if you are a trader or an investor, you need to be savvy and pinch pennies when they need to be,
the rich don't get richer by spending all their money every day, they hoard it. Reinvest it, and prosper, then clench their fists.
You don't need to be rich to be a good or great trader.
Just need to know yourself and how to identify movements that will make YOU profit in a timely and special manner.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News