Gold is currently trading at a pivot point and will most likely make a sharp move higher or lower from here. This has many traders on edge right now. I prefer to stay in cash during times like this and jump on the wagon once a direction has been confirmed and I have a low risk setup.
How To Trade Gold & Gold Stocks - Trading Conclusion
Learning how to trade gold and gold stocks can be done very easily if you know what to look for and have patients. I don't trade gold every week but that's what I really like about my trading model. It's simple and I don't have to be glued to the computer every day.
I can quickly look at the charts and know if I could have a potential buy or sell signal with a few days. If I do then I watch the charts, if not I focus on answering my members trading emails and look for other possible trades in other sectors like the Nat Gas and Russell 2000, etc…
As you can see from the charts above gold is at a crucial pivot point and only time will tell before we know where gold is headed. Once we have a direction I will be looking for a low risk setup which is a trade with less than 3% downside risk for putting our money to work.
I can quickly look at the charts and know if I could have a potential buy or sell signal with a few days. If I do then I watch the charts, if not I focus on answering my members trading emails and look for other possible trades in other sectors like the Nat Gas and Russell 2000, etc…
As you can see from the charts above gold is at a crucial pivot point and only time will tell before we know where gold is headed. Once we have a direction I will be looking for a low risk setup which is a trade with less than 3% downside risk for putting our money to work.
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