09-26-2020, 10:05 PM
(09-26-2020 05:14 AM)kafirbaz12 Wrote: [ -> ]Excellent summary lostinheaven!
His latest opinion on USD
(09-25-2020 11:17 PM)lostinheaven Wrote: [ -> ]Thanks to your contribution to thread as Gold trader... I dont take 100% what Gary says, but till the moment he has been almost 100% correct even before the 1800 break out up... when I started following him.
Now he mention an short term dollar rally till the elctions which can make gold test that area 1725-1825... then moving up for the buble phase as he referes and he mentioned in other videos the possible big spikes in the bubble phase.
(09-25-2020 11:15 AM)EuroTrader Wrote: [ -> ]Hey lostinheaven and kafirbaz12 . . .
I daytrade Gold (GC) futures and it has definitely been nicely volatile for the past month plus with extremely good volume.
I would caution traders that although this guy seems somewhat knowledgeable (I only listened to part of this last video so he may be very knowledgeable), Gold is subject to the extreme uncertainty prevalent in the markets now with the Supreme Court vacancy and a Presidential/Congressional/Senate election in about 40-days. Gold would, therefore, naturally have pulled back from its all time highs and mostly gone into a somewhat extended range.
That's not necessarily good for swing traders or position traders (longer-term) but great for intra-day scalping.
If one side wins things look one way -- if the other side wins they look very different (for Gold, the markets in general, and the US).
Gold has some very good support underneath (watching the 1725-1825 level especially) but significant news can always spike price . . . up or down.
I won't give my opinion(s) as to where it's most likely going when it leaves the range. I'll leave that to the video guy.
Good Luck!
