Auguraltrader

Golden Opportunities- lessons from the last two years

Education
TVC:GOLD   CFDs on Gold (US$ / OZ)
It all started with gold prices falling in 2018, and after a while, I started looking for potential opportunities in Gold . What followed was a long time friend by the same namesake suddenly popped up to ask for my opinion specifically about gold ... and this was two years ago today, short of a few days, in mid-August 2018 (see chart by zooming out).
Since then, the gray arrows mark the theoretical ideal entry points and the white arrows are my real entry points. You can see a particular pattern here, which I spoke of previously, where it is more favorable a time for entry based on a set of rules that includes technicals and patterns, providing a higher probability of a good profit, be it for a trade, investment, or longer term holding.

Coming back to the last two weeks, I have had many people asking about gold , and my opinion about it, etc. many are ready to enter the gold market. You see, most of it was sparked off by the recent gold rush (as is always), and I noticed that often, there is a lack of rules from the beginning, for entry nor for exit.

So herein is a visual set of rules I have for entry in gold which were tested over the last two years...
1. Price must break above a down sloping trend line ; and
2. MACD must cross the zero line; and
3. Price must be higher than the recent highs (of the last 11/13/21, whichever is preferred)

These rules work very well, particularly when two conditions are met:
1. Weekly chart is favorable in trend (this case, trending up); and
2. There is a strong fundamental reason (this case is very robust for Gold to be in favour)

So there you go... I hope everyone can see that to buy gold at the current time (or In recent weeks) is probably not as favorable as you would like it to be, notwithstanding that Gold may advance higher at some point, anyways. In fact, it is projected that gold should be topping out around 2100, next week perhaps (reference the white line).
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