Short-term traders exited long position on a RED Daily “Trade Triangle” @ $1,407.30 today and remain neutral for now. This short-term trade produced a Profit of $19.58 an ounce.
Intermediate and long-term traders hold long positions.
If you are not yet a member of MarketClub see what you are missing in 2011 with a 30 Day Risk Free trial and receive 3 valuable bonuses just for giving us a try.
It's that time of year again when everyone who is considered an "expert" comes out of their ivory towers and makes their annual market predictions for the New Year.
I can honestly say that I wish I had a crystal ball like these other forecasters, but that's not quite how the markets work. You see, markets don't give a "Rats A**" about what forecasters say or what predictions economists make. The market is the only true voice out there.
Think about that for a moment. How many predictions do you remember that were even close to being spot on a year in advance? I remember several forecasts for 2010 and most of them were far from accurate.
Does it make any sense to trade on a year-end forecast, not knowing what can happen in this crazy world we live in? It doesn't make any sense to me or to other professional traders who never trade based on year-end predictions.
So let's get back to reality and take a look back on 2010 to see what the big trends are showing for 2011.
Short-term traders exit long position on a RED Daily “Trade Triangle” @ $1,375.85 today and remain neutral for now. This short-term trade produced a Loss of $10.17 an ounce.
Intermediate and long-term traders hold long positions.
If you are not yet a member of MarketClub see what you are missing with our 30 Day Risk Free trial and receive 3 valuable bonuses just for giving us a try.
Short-term traders went long on a GREEN Daily “Trade Triangle” @ $1,372.77 today.
Intermediate and long-term traders continue to remain in long positions.
If you are not yet a member of MarketClub see what you are missing with our 30 Day Risk Free trial and receive 3 valuable bonuses just for giving us a try.
The gold market has been pushing out its normal level of frustration and anxiety for the past several weeks.
So the question becomes, is the gold market pausing to move higher, and of course the Bulls would argue this, or is it forming the head and shoulders top that many technicians are looking for? Of course, this would be a bearish sign for gold if this technical formation is completed.
I've just finished a short video that shows you what we're looking at right now in gold and how I think it is going to be resolved. The video is a little over 2 minutes. It's quick and to the point while supplying you with what you need to take your place in or out of this market.
Continue reading "Is gold stuck between a rock and a hard place?"
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