I think it came as a big surprise to many traders that the gold market imploded on Tuesday pushing to its lowest levels in several days.
The downward spiral was enough to trigger a daily "Trade Triangle" which moved us into the neutral camp on this market. Exiting our long gold position based on our "Trade Triangle" signals produced a very small profit or in some cases of break even trade.
So the question is: Is the sharp downward move in gold over?
In my new video I answer that question and share with you some levels I think gold will go to on the downside. I also share with you that we could be setting up for it excellent buying opportunity, if and when our "Trade Triangles" are aligned.
If you have a few minutes I strongly recommend that you take the time to watch this gold video.
In today's video on gold I'm going to share with you my thoughts on the cyclic pattern of this market. I'll show you where I believe the lows have been put in place, and also where I expect the next high will come in.
One of the nice features about MarketClub is the fact that we have real-time gold prices. If you're going to be trading or looking at gold (XAUUSDO) you need real-time prices.
After a spectacular run-up in gold values in the last decade, gold prices have slowed down and have entered into a broad trading a range. In today's video I will be looking at what are the likely scenarios that come out of this 14 month trading range.
This week (starting 7/20) could be enormously important for the yellow metal as a key level is within striking distance which will kick this market into action. In this video I give you a specific level that I am watching personally in this market.
You can watch this video with our compliments and there is no registration requirements. We would love to get your feedback about this video on our blog.
All the best,