This chart provides a general view of what gold does right after the new year has started. For the exception of 2013, all new years start with a move up. The dates are marked in yellow vertical lines and the bottom price to the immediate top is in red numbers (1000-1200, example). I have not marked the immediate top as it blocks the important date and start of up trend. You can now mark the closest highest price before it pulls back. Check June, July, August for the next move up.
Check MACD positioning in order to understand where to long and short. Use indicators such as moving averages as support and resistance. I personally use 40, 150, and 200. Smaller moving averages can include 13, 23 and 63. The crossing of the 200ma with the 150ma, up or down on any time frame can cause price to increase or decrease. I leave you this tip so that you can see for yourself what happens.
There is much more to learn from this instrument than just price action and seasonality. It is a gauge that can be used along with other instruments to get a better feel for the market. That does not mean that if gold is going up the world is ending.
Happy New Year 2017 to all of you who follow my charts. Right or wrong, it is about sharing information and learning from mistakes. Success to all of you.
Check MACD positioning in order to understand where to long and short. Use indicators such as moving averages as support and resistance. I personally use 40, 150, and 200. Smaller moving averages can include 13, 23 and 63. The crossing of the 200ma with the 150ma, up or down on any time frame can cause price to increase or decrease. I leave you this tip so that you can see for yourself what happens.
There is much more to learn from this instrument than just price action and seasonality. It is a gauge that can be used along with other instruments to get a better feel for the market. That does not mean that if gold is going up the world is ending.
Happy New Year 2017 to all of you who follow my charts. Right or wrong, it is about sharing information and learning from mistakes. Success to all of you.
