JefeCaan
Long

Buy Gold, Sell Bitcoin

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold is ready to begin its climb as tensions with China and Iran take a serious turn. The recent Huawei crackdown has already weighed heavily on the tech sector and as the trade war escalates further, we are going to see the stock market take a hit. Renowned billionaire hedge fund manager, Ray Dalio of Bridgewater Associates said after the Huawei step, "It should now be clear that the war with China is not limited to the trade war". On the Iranian front, Iran has refused offer for talks. The US is keenly looking for trouble and it is getting clear that it is going to get it sooner or later. Stocks of defense companies including $LMT, $NOC and $RTN have been on a roll.

Meanwhile, Bitcoin is pretending to be digital gold when it is nothing more than a highly speculative asset at this point. A few big players control most of the supply and they swing the price whichever way they choose with no regard for any rules or regulations. Such naked manipulation is rarely seen even in penny stocks. As Gold rises over the next few days and weeks, expect Bitcoin to go down.
Comment: Gold could make history if tensions escalate into conflict.
Trade closed: target reached: Taking profit here. Near term outlook uncertain. This has been a good trade.
will have little effect on gold prices. if anything it will have impact on oil price.
Reply
Gold is not low enough for a deep value investor to get long - not yet. But we'll see. @dRends35
+1 Reply
london55555 london55555
@london55555, p.s. I do agree with you on the "sell bitcoin" part
+1 Reply
JefeCaan london55555
@london55555, Still makes sense for a swing trade though.
+2 Reply
london55555 JefeCaan
@JefeCaan, Actually yes it does just not what we do but good luck if you take the trade.
+2 Reply
JefeCaan london55555
@london55555, Thank you. Already have and I'm up from when I posted this.
+2 Reply
london55555 JefeCaan
@JefeCaan, Not many on here will not know or understand ZS ( soybean futures) but I know you will - take a look at our last trade on this - now closed but looking to enter again at some point - this trade is all about a trade deal with China and if bought right a possible 100% upside.
+2 Reply
JefeCaan london55555
@london55555, Yes, I've been following Soybean Futures in the trade war connection but I've not traded soft commodities in a long time. Good luck with your trade and yes it can be very profitable.
+1 Reply
london55555 JefeCaan
@JefeCaan, Thank you - it's only a trade for professionals so we'll see how it goes. @dRends35
+2 Reply
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