Which way? Gold.

Trader13 said:
I'm sure you can find a lot of short setups that work during a routine market phase. My concern is tail risk for a systemic market decline. We've been in a Trump bull market for the last few years, so it's easy to become complacent and forget what a crash looks like.
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%% Good points;
not that i would credit ANY one man or even the FED for completeness /capital markets/trends[+ i voted for him,LOL] Yes i saw/see the WSJ doing that all the time.LOL....................................................................................................
 
This is my call on gold for the near future:
Gold looks bullish but it's kind of fools gold. In the very near term dumb money is being suckered in.
Anyhow, my thoughts, gold will see a pullback to align itself with the support level of gold's rising trend, so it'll see a price maybe coming under $1500 again to rattle out weak players.
When USD falls below $96 which I expect, then gold will rally on up again.
 
themickey said:
This is my call on gold for the near future:
Gold looks bullish but it's kind of fools gold. In the very near term dumb money is being suckered in.
Anyhow, my thoughts, gold will see a pullback to align itself with the support level of gold's rising trend, so it'll see a price maybe coming under $1500 again to rattle out weak players.
When USD falls below $96 which I expect, then gold will rally on up again.
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Gold is too high, it is a false rally. This is because of the Iran thing. 7 years since this level? Mreh, I dunno' man!
 
themickey said:
This is my call on gold for the near future:
Gold looks bullish but it's kind of fools gold. In the very near term dumb money is being suckered in.
Anyhow, my thoughts, gold will see a pullback to align itself with the support level of gold's rising trend, so it'll see a price maybe coming under $1500 again to rattle out weak players.
When USD falls below $96 which I expect, then gold will rally on up again.
More...

Feb gold maybe 1550 to 1520, longer term charts say its not over done, 2000 for sure, but one thing about gold it needs news to go up, not earnings. Gold will always be fools gold.
 
themickey said:
From my research results, gold is correlated + silver, negative DX, negative SP500, + Mining Index, + AUD, etc at different cycle times.
So in other words, in terms of correlation, it is unreliable to correlate gold to anything because for a short season it correlates, then it doesn't.
Atm it's negatively correlated to SP500 and positively correlated to Silver, but re DX it's swinging in the wind, however once DX takes a nose dive below $96, I expect to see neg. corr.
Best way to trade gold is on its trends hitting round numbers, forget correlations.
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Posted from another thread.... Markets are impossible to predict
index.png
USD black, Gold green line
Here an example where negative correlation has reversed.
 
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