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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
1 POST
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...
..“The desire for constant action irrespective of underlying conditions is responsible for many losses on Wall Street, even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.”..
Jesse Livermore
..“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
.."The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market."..
George Soros
.."it is better to have few stocks and to watch them carefully”...
Bernard Burach
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