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Gold Gann Angle Update
Created on: 9/10/2020 5:58:36 PM   Last Update: 9/10/2020 6:08:32 PM Posted by: RTT

gold-gann-angle-updateGolds 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.



FED forecast





The US dollar continues to follow its time cycle (re posting of chart).



US dollar





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.



GOLD





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Investing Quote...

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Jesse Livermore


.."Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't under-estimate the value of that, but they're not designed to take care of social needs"..

George Soros



...“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”...

Martin Zweig (The inspiration behind a number of Martin Zweig’s methods came, from Jesse Livermore).


..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..

Warren Buffet


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Nobel Laureate for Economics Paul Samuelson




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