Hey
@V* and all,
On the sidelines with BDR waiting for that confirmation to jump in.
NY resolution, to be less speculative, especially in gold.
So i am focusing less on fantastic patterns; which i think for me have been like reading my horoscope, where i tend to chart to convince myself that something is going to occur.
The main theme for me will be momentum. Had i have followed this in late 2016, i may have come out a reasonable amount in the black for my goldies, rather than 'better than interest rate returns'(BDR excepted).
Speaking to my old mate in the office here yesterday and cliches like "the trend is your friend" drolly escaped his mouth. But he cleaned up on both brexit and election day last year, so i will adopt simpler strategies.
Thus, my charts will be pretty boring:
Gold and DXY with "momentum index" which shows current trends and strength of the trend.
Green line/Red line = positive trend/negative trend
Black line = strength of trend.
USD vs everything
Gold
So gold showing some signs of a bounce, with trend line(red) and strength(black) abating.
Trend strength indicator is considered strong over 25.
Less than 25 price action is volatile.
Any way, i like Average Joes' chart, maybe i have missed out and also i missed the jump in BDR on the 30/12. Did u get in that day
@V* ? nice ~10% jump.
My finger was on the button yesterday, but held off.
Anyway, will walk to the next stop and maybe hail the BDR bus down then.
GLTA
srm777
PS
Crappy new year to all.
