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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 244 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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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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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
.."While I have made it a practice to limit my risk in most cases, I can trace most of my principal losses to my failure to place stop orders when the trades were made."..
Richard D Wyckoff
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
."Buying stuff people hate, that's the business we are in, right!"..."you may need to have a longer time horizon"..."be patient"..
Mark Yusko
..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..
Bernard Baruch
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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