Can use the 4 hour moving averages as a trailing stop.
As you can see in the screenshot, previously gold has gone straight up until resistance.
Investors don't trust the stock market, fixed income, or obviously bitcoin either which is having parabolic moves down itself. Stocks are going up because of buybacks & the FED balance sheet growing ("not QE!") not investors.
Gold has just gone up for its entire existance.
Might as well jump in the reward compared to risk is 10 times for me here.
Way worth.
Not much thinking required, pretty straightforward here. If you believe the odds of continuing powerfully up are higher than ~10% it is worth it.
Should be a trade lasting a month or two at most if it works out the parabolic way.
* You'll hear CNBC praising gold at the top I bet. Or maybe in years when it REALLY went up. Love them :D
What's your take on silver? Do you believe there has been a production deficit for the past 3yrs?
MrRenev
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@AMERICANHANDYMAN, Isn't this the same fearmongering/schilling that has been going on for the past 30 years? "Silver shortage peak production bla bla". We have had only 12 years left for the past 3 decades same old same old.
I think production is on the rise, probably to accomodate higher demand. It is possible the market catches up to increasing demand and ends up rallying.
It is also possible that there is high demand and won't be enough supply but I don't believe in the "fear mongering".
One would have to do their own research look at all the evidence, also if the supply is lower than demand, what are industrials options? They won't buy silver at 3 times the price if they can replace it by something just as good.
And so on...
It is in an uptrend and making these obvious patterns. I don't think investors are very interested they don't care about silver all eyes on gold and other markets now and I can't predict the future, not several months from now.
I only predict the future a few days or weeks away ;)
I expect silver to get strong moves at some point, how strong I do not know, but when it starts happening I will be ready and start hopping in like I did for gold recently.