I don’t have a lot of time this morning but wanted to let you know…..
Gold is looking like a “top” as The U.S Dollar is “slowly” ( very slowly ) putting in a medium term bottom.
I tried to hit this trade a week er two ago…but the cycles are extended, and the trade treaded water too long for me to care/stick around. I dumped broke even…and spend the time out playing in the sand.
This is very much so “back on my radar” as….the big spike in gold and the continued pressure on USD is setting up for something “worth trading”.
Find some levels people. Look at a few longer term charts of gold, eur/usd and USD in general (weekly charts ) and you’ll see that we are very close to an area of resistance in gold, and support in USD.
Tell me you see it…..tell me you look at these longer term charts to find areas worth trading. If not….don’t tell me anything. You’ll get smoked in this environment solely looking at short-term action. Short term is “grind your account into dust” type action no?
On an aside….Aerospace entrepreneur Robert Bigelow just did an interview on 60 minutes, stating that he is “absolutely convinced of an ET / alien presence on Earth. That’s all there is to it.”
No shit sunshine….I’ve been here for 1000’s of years.
Trade setting up for Kong….just not today.