Cup and handle - Gold

I'm still in this gold long, and thankfully was able to add to my position got ABX and SSRI on the way down last week.


Small sell-offs like last week are very common during a baby bull, people tend to get nervous when they see some selling, which adds fuel to these sell offs. The best advice I can give is to review your charts, and trust in your analysis, whether you're bull or bear.

Komen:

I think we retest 1220, as I don't see the point in bulls regaining 1200 if new highs aren't going to be tested.

Komen:

Idea worked out well, let's see how it continues to play out. 1220 is a key level.

Just a reminder to continue to trust in your own analysis, I've repeatedly been told that I am incorrect (since 1129) by significant members on TV, and this will not change going forward. Having confidence with my analysis and avoiding this nonsense has allowed me to make some solid trades.

Good luck.

Komen:

FOMC should be interesting tomorrow.

I believe Yellen is dancing for her dinner at this point with Trump, and it's in her best interest to be dovish, and not raise (as Trump wants a weaker dollar, plus GDP was sub 2%).

I will be setting stops at a decently low levels for my equities, right near support areas.

Komen:

Today was another lesson in avoiding nonsense.

I'm sitting there, listening to people have been stopped over and over again because they're dead set on being short for some reason, mock me because I'm long. Could I be wrong? Yes I could be. But if gold doesn't go up $10+ everyday, it doesn't mean that I'm wrong. I'm still long from 1129, and will continue to be long until the gold landscape changes.

Just because you can count to 5 and draw zig-zag patterns on your chart, doesn't mean you're correct 100% of the time. It just means you know how to use a computer.