Gold Rush!
Gold is going up towards the 1550 area and we know this because it is been playing on the trend line for awhile and is now pushing towards the area with a lot of influence because as S&P get stronger that only means that there's more room to fall for the equity S&P.
However, I open my trade around the 1480 area, in that's when the Fed decided to keep the interest rate the same so it's kind of a confusing space for gold and S&P and all the indexes because it doesn't have much of a direction and S&P's just building on kind of false strength right now.
With that being said, I do believe gold will continue to rise however I believe that S&P in indexes will eventually fall because they can only keep this up for so long but there has been a lot of good stock reports like apples and Tesla Facebook there all reaching 52 week highs.
In a situation like this where some fundamental factors may not help as much because there is so much confusion and angst in the market that technical analysis will be the better processor of information. As you can see when I bought it was actually on my trendline just a simple trendline that I drew and I placed a stop loss right below that and since then I've been holding onto this by actually twin traded to buy right there so yes be patient and let the market work itself out.
However, I open my trade around the 1480 area, in that's when the Fed decided to keep the interest rate the same so it's kind of a confusing space for gold and S&P and all the indexes because it doesn't have much of a direction and S&P's just building on kind of false strength right now.
With that being said, I do believe gold will continue to rise however I believe that S&P in indexes will eventually fall because they can only keep this up for so long but there has been a lot of good stock reports like apples and Tesla Facebook there all reaching 52 week highs.
In a situation like this where some fundamental factors may not help as much because there is so much confusion and angst in the market that technical analysis will be the better processor of information. As you can see when I bought it was actually on my trendline just a simple trendline that I drew and I placed a stop loss right below that and since then I've been holding onto this by actually twin traded to buy right there so yes be patient and let the market work itself out.
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