• 274 days Could Crypto Overtake Traditional Investment?
  • 279 days Americans Still Quitting Jobs At Record Pace
  • 281 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 284 days Is The Dollar Too Strong?
  • 284 days Big Tech Disappoints Investors on Earnings Calls
  • 285 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 287 days China Is Quietly Trying To Distance Itself From Russia
  • 287 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 291 days Crypto Investors Won Big In 2021
  • 291 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 292 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 294 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 295 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 298 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 299 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 299 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 301 days Are NFTs About To Take Over Gaming?
  • 302 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 305 days What’s Causing Inflation In The United States?
  • 306 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

Believe It or Not, It's Happening to Gold

Tonight as I was going over my charts and running my end of analysis the charts jumped out at me with a trade setup and wanted to share my cycle chart for gold with you.

The price chart of gold below is exactly what my cycle analysis told us to look for last week WELL ahead of the today's news and its things play out I as I feel they will then we stand to make some pretty good money as gold falls in value during the month of April.

If you have been following my work for any length of time then you know big price movements in the market like today (Tuesday, March 29th) based around the FED news ARE NOT and SHOULD NOT be of any surprise.

In fact, this charts told use about today's pop 2 weeks ago and we have been waiting for it ever since. The news is simply the best way to get the masses on board with market moves and gets them on the wrong side of the market before it makes a big move in the other direction, most times... not always, though.

Take a look at this chart below. You'll see two cycle indicators, one pink and one blue. The pink cycle line is a cluster of various cycles blended together which allows us to view the overall market trend of biased looking forward 5 - 30 days.

The blue cycle line is a cluster of much shorter time frame cycles in this tells us when we should expect strong moves in the same direction of the pink cycles or countertrend pullbacks within the trend.

One quick point to note with cycle trading is that the height and depth of the cycle does not mean the price will rise or fall to those levels, it simply tells us if the market has an upward or downward bias.

The current cycle analysis for gold along with the current price is telling us that today the short term cycle topped which is the blue line and our main trend cycle is already heading lower. The odds favor gold should roll over and make new multi-month Lows in August.

Gold Chart


Gold Trading Conclusion:

In short, we have been waiting for gold to have a technical breakdown and to retrace back up into a short-term overbought condition. Today Tuesday, March 29 it looks as though we finally have the setup.

Over the next 5 to 15 days I expect gold to drop along with silver and gold stocks. There are many ways to play this through inverse exchange traded funds or short selling gold, silver or gold stocks.

This year and 2017 I believe are going to be incredible years for both traders and investors. If treated correctly, it can be a life-changing experience financially for some individuals.

 


Join my pre-market video newsletter and start your day with a hot cup of coffee and my market forecast video: www.TheGoldAndOilGuy.com

 

Back to homepage

Leave a comment

Leave a comment