etfsandstuff

GOLD/BTC Long

Panjang
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Buy Gold - Sell BTC. Gold/Silver and BTC are highly negatively correlated assets and although many think it is wise to own both i totally disagree. I own one or the other as a long term holding and just swing trade the other. The fact is that gold has outperformed BTC by a wide margin since 18-Dec-2017 (BTC top) and continues to do so. If there was any doubt about which asset to be in then this should have become obvious on 14-Nov-2018 when the GOLD/BTC ratio broke out of it's long term down sloping trendline. The ratio is now consolidating at resistance tracing out an ascending triangle/C&H pattern. It looks to me like we are getting ready for the next large move in GOLD/BTC. If the ratio breaks down from this triangle pattern i will get stopped out of some positions and look to rebuy at the green support zone.
Komen:
continueing to accumulate mining shares and physical PMs as this triangle is looking more like an ABC correction and the trend is still up meaning i still favor PMs over cryptos. the big move in PMs is just around the corner.
Penafian

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