Small bites and be gone. Ok …I’m a mouse not a man !!
Nothing personal It was an observation that buried deep down inside is part of your youthful essence. It is what makes you buy motorcycles, for example.
gotcha, I just re-read and saw what sparked your comment
I just stumbled across an interesting presentation of economic cycles.
I guess we can call this the Trump Spring. lol
Hey I’m curious on how much you follow gold and how/why it trades?
Just got to work out how we make a killing now we know what cycle we are in !
Hey thanks for the reply. I actually don’t trade it often as I’ve had many a trade turn south after hours or before open. I was curious on your thoughts on reasons why it could make a big move. Is it largely inverse that of the dollar?
IMO Gold pricing is entirely related to Risk Sentiment.
In 2007 the price started rising and took off when the financial industry crashed. The thinking being that everything was doomed … probably not far from the truth since we were saved by a whisker and some quick thinking by most of the Central Banks and Governments.
So look at the recent lift from ~1250 to ~1350 … what happened? There was a significant retrace on stocks globally. The UK main index went from ~7700 to ~6500, there were similar moves on DJI^ and SPX^ and Nikkei-225.
As for the day-to-day stuff, I think you just have to read the chart.
Gold , Silver, US500, US30, UK100, Brent,Wti all same direction last 9 weeks, less so but still same direction but more retrace looking,The Nikkei. With gold leading the way with a 3 week head start, it turned first. Think it’s a tough one to call mate.
I left it running because the swap was paying.
The trade closed this morning just before 7am GMT.
Just BTFD and hedge with CFD’s LOL
Longer term I’m looking for gold/silver parity - crazy I know but I like the long game and I’m very patient
Seriously, Stu Boy, you should write a book. U utter some good stuff!
Right … finished for the week. Up 4.9% on what has been (for me) a pretty difficult week. In fact the whole of February so far has been distracted by a load of other events and interruptions.
Yes I have been scalping today. Some people believe that Friday is a stay-away day for FX and they have entirely valid reasons for that. I believe that Friday can be a dangerous day for trading FX, but I do trade on Fridays and I make sure that Europe is still open when I am trading. After Europe and the UK close the American houses are free to push price wherever they choose, and hunt some weak hands or the perhaps obvious stops (visible in level-2 pricing).
Today I made use of some handy reactions to the speakers who began their various testimonies or whatever from 3:15pm GMT. So thanks to them all
Now … I have a load of other jobs to do
Cheers Jim. I think if people coming to this game ignore the BS and stop looking for complexity they stand a greater chance of surviving. Alas we know from FF they like to have charts full of crap that induce psychosis.