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Created on: 9/10/2020 5:58:36 PM Last Update: 9/10/2020 6:08:32 PM Posted by: RTT
WARNING: This entry is 698 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
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Gold Gann Angle Update
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 Golds bullish trend has worked well in 2020, so what is next over the immediate 3 to 6 months? Will we continue to see a golden future.
The US dollar had been strong into COVID 19, since then the FED has printing a lot of money, and they are also considering YCC (Yield Curve Control), last seen during WW2. [Note YCC lasted 9 years over WW2. WOW, that is a lot of money printing.]
The FED is now forecast to over take competing central banks balance sheets in size, and the release valve will be a falling US dollar. Therefore we should continue to see the US dollar maintain is slow leak down over the next 3 to 6 month, say on the DXY 82 to 88.
Also, US election worries will add to the weakening of the dollar. Of course extreme chaos in Washington will accelerate the US dollar decline.
The US dollar continues to follow its time cycle (re posting of chart).
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These Gann Angles on gold (GLD ETF) high light the BULL and BEAR plays. If the US dollar continues to fall then the light yellow box should be considered as a target to take profits.
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NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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Investing Quote...
..“It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind.”..
Jesse Livermore
After a question on how to become a better investor professional Mr Munger responded, ..“Read history, read history, read history."..
Charlie Munger
..."If you don't read the newspaper, you're uninformed. If you read the newspaper, you're mis-informed."...
Mark Twain
.."Money couldn't buy friends, but you got a better class of enemy"..
Spike Milligan
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Thomas Jefferson
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