Gold is nearing it's 12 month low measured in USD.
If you have USD... Buy the dips and hold the longs...
This is going to get interesting
Gold - Buy the Dip !!!!
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Perhaps the following will be meaningless to you, but I offer it up, regardless. I'm a "harmonic pattern" (counter-trend) trader, for the most part, so I'm always on the lookout for these "more advanced" patterns.
Above, as I highlighted on the chart, we have a possible Cypher pattern - a pattern with specific ratio guidelines which compare segments XA to AB, AB to BC, BC and BC to CD.
The rule for the Cypher is that AB must retrace between 38.2% and 61.8% of the XA segment. Once that condition is met, BC must fall between 113% and 141% of segment XA. If both of these conditions are met, then we come to "expect" price to reverse once point D is hit, if price should ever come down to that level.
Point D is the 78.6% retracement of segment XC.
According to one Jason Stapleton, this pattern has a success rate of over 70%, meaning that it "hits target" seven times for every three that it hits the trade-system stop-loss.
The target is a 38.2% retracement of segment CD. The stop-loss is set 10 to 20 ticks below point X.
By the way, point D, the highest price of what I labeled the strong buy zone, comes in at about $1,115.00.
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Interesting. I think it is certainly possible... It is also possible that the same powers that have been holding metals back will prop them up...
Either way it is an interesting ride and I am glad I am onboard..
Thanks for sharing...
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The only thing that makes sense is they are putting out a bunch more gold and silver derivatives.
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In the end the savers and bond holders are going to get hurt.
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Yes, as is always the case. The police in Greece were pepper spraying pensioners who were protesting yesterday...
Sad times..
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Likely, plus as the Euro and the pound falls the dollar is rallying big time...
When I say buy the dip I am not speaking of the GLD lol
Get some physical and enjoy the ride :) AG is a steal at $18.45 as well...
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I agree to buy when it is low :). Many people look at gold as an investment but I like to think of it as savings!
Interesting article --> http://www.thedailyeconomist.com/2016/10/london-dumps-1000-tons-worth-of-gold.html
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Yes in deed, saving in gold is the only way to save in these times of fraud and currency manipulation.
I have a Goldmoney account that I use for liquidity and of course I hoard physical. I bought all the way down yesterday and even though it's likely fall more this week I am content knowing mine is being delivered tomorrow.
Thanks for sharing...
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I think it is to early to buy. We left the trend channel ...
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I am buying all the way down myself, when this thing turns around I am not sure there will be time to get in lol...
We may fall further yet but in the end $1300 gold is going to look like an amazing deal..
Good luck :)
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I bought 2006-2008, and know all of the arguments of the gold bugs. Good luck!
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Good for you, I bought mostly silver back then, But when ya start using monster boxes as door stops and all the closets are full it comes time to think about gold :)
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