The Feds has given the official green light for inflation overshoots and the incessant money printing will likely continue for now.
Gold has been in consolidation since the start of August looks to have broken out of the consolidation with a strong move above the 1960-1970 resistance. It has been able to hold onto the 1920-1930 support with breaks below it getting promptly bought back. I believe this has simply been a consolidation for a continuation of the trend.
Trading Regime: Neutral
Relative True Value Divergence: + 0.3 sigma (Neutral Overvalued)
Last Net Force Sigma candle: 1.2 sigma (Significant Move)
Stoploss: 1855.8
Risk: 0.5%
Note:
Red arrows denote my open positions. Arrow head = entry, arrow end = stoploss
Gold has been in consolidation since the start of August looks to have broken out of the consolidation with a strong move above the 1960-1970 resistance. It has been able to hold onto the 1920-1930 support with breaks below it getting promptly bought back. I believe this has simply been a consolidation for a continuation of the trend.
Trading Regime: Neutral
Relative True Value Divergence: + 0.3 sigma (Neutral Overvalued)
Last Net Force Sigma candle: 1.2 sigma (Significant Move)
Stoploss: 1855.8
Risk: 0.5%
Note:
Red arrows denote my open positions. Arrow head = entry, arrow end = stoploss