Always looks attractive to short when it is high
While FX_IDC:XAUUSD is doing a reversed shampoo, FX_IDC:XAGUSD is forming a nice pennant which could possibly breakout at the same time as its cousin. Long Entry: 17.911 SL: 17.85 TP: 18.16-18.74 Any feedbacks are appreciated
Once again I am looking at the weekly chart for gold which is oversold and close to very strong support around $1,190 - $1,210. Of course the price action during the last 18 weeks has been disappointing but there is still a good chance that this is the typical deep retracement after the first up-leg in this new bull-market. In the next step gold needs to break the...
The Gold/Silver ratio shows an interesting setup here, and correlation to inverted SPX, which points to the nature of the ratio's movement tied to risk off/on phases. This has to do with the real world applications silver has as an industrial metal, compared to gold's function as a store of value and risk off protection. I think we can see a long term decline,...
We have a nice setup here, you can take an equal dollar weight, which if trading futures, is roughly 2:1 on silver vs gold allocation (long/short). With stocks it's simple, I reccomend a 7% capital allocation to this trade, per side and no stop loss. This is quite easily a 4R trade once it pans out favorably. Good luck! Ivan Labrie. PS: Contact me if interested...