Good Morning everyone, sorry for the missed update yesterday. As predicted, Gold prices broke through the support region around $1281, the heavy selling momentum was caused by positive corporate earnings surprises as well as a positive outlook from the Fed. Both pieces of news point towards a healthy US economy, therefore easing investor fears and … Continue reading April 16 – Gold Support Broken
*Relevant charts are at the bottom of this post* Stay tuned for daily updates this week, in which I detail my trades and the reasons behind every move. Welcome back everyone, I hope you’re just as excited as me to tackle this week’s headlines! We have a short week of trading but some important news … Continue reading Week of April 15 – Gold Sell Off Incoming?
Stop Loss reached at $20.6 and sold the rest of my position at $20.6 for a gain of +6.45%. As predicted, Gold and Gold miners sank after the Fed minutes revealed possible increases in rates once again, if they see the economy and inflation start to pick up again. Today’s Headlines: Inflation numbers came out … Continue reading April 10 – Inflation Finally Picking Up?
TRADE UPDATE: Trimmed down 50% of my $NUGT position at $20.7 just now, for a return of +6.97%. Leaving the other 50% position in order to gain exposure for tomorrow. Stop-losses should be set relatively tight tomorrow, as volatility is bound to pick up and all the gains made so far could be wiped out … Continue reading April 09 – Assess Your Position Size
*I use leveraged gold miners etf ($NUGT) to gain short term exposure to the gold miners etf ($GDX). However keep in mind that the miners don't have a perfect 1 to 1 correlation with Gold prices.* Trade Update: Gold and Gold Miners surged today partly based on the report that China’s central bank continues to … Continue reading April 08 – Gold Breaks Through
Trade Set Up Please refer to the charts at the end of the post to see which resistance points I'm talking about. Current Position: 50% of full position in NUGT.Looking to add more to the position after it sells off at the first resistance, which is also where the first take profit point is. I … Continue reading Week of April 08
Trade Update: Currently still only have 50% of a full position in $NUGT. The price retraced today as predicted, however my limit order was placed too low at $19.2 and the lowest trade was $19.33, by the time I was back at the computer it was bought up above $19.6. I decided that the risk/reward … Continue reading Flat Friday