Gold Long - Dollar, Dow, Nasdaq and S&P, All Ready to Fall
It's about time! And it's gonna happen anytime.
For gold traders, we will always watch a few things closely especially the dollar and the stock market.
When the stock market crashes, gold will be in demand as a safe haven asset.
When the dollar starts to fall, obviously the gold will start to climb, but of cos, there are some instances where it doesn't has any impact.
If we were to see both the US stock market and the dollar fall at the same time, there's next to no reason that the gold won't jump.
And after 2 weeks of ranging movement for the gold while observing the movement of the dollar and the US stock market, I think it's about time.
The gold has squeezed from a close to 200 pips range until a less than 60 pips range.
Then again, there's also a possibility that even though everything points to long gold, it may end up going totally south.
So as reminded always, risk with what you can, and risk accordingly to your own risk management system.
For gold traders, we will always watch a few things closely especially the dollar and the stock market.
When the stock market crashes, gold will be in demand as a safe haven asset.
When the dollar starts to fall, obviously the gold will start to climb, but of cos, there are some instances where it doesn't has any impact.
If we were to see both the US stock market and the dollar fall at the same time, there's next to no reason that the gold won't jump.
And after 2 weeks of ranging movement for the gold while observing the movement of the dollar and the US stock market, I think it's about time.
The gold has squeezed from a close to 200 pips range until a less than 60 pips range.
Then again, there's also a possibility that even though everything points to long gold, it may end up going totally south.
So as reminded always, risk with what you can, and risk accordingly to your own risk management system.
Comment:
If you wanna be really safe, set stop loss below 1286.
