Global Macro Trading Journal

Discussion in 'Journals' started by Daal, Feb 25, 2011.

  1. themickey

    themickey

    I don't see any gold sell signals.
    My wife is a good gold stocks trader, she follows all sorts of youtube traders and talking heads nearly 24 hours a day and she told me yesterday she and others were talking about a gold top now.

    My system sees no gold top.
    I won't be selling until I get a signal.
    I won't buy nor sell because "I feel".

    There's a huge danger.....
    The crowd feel and the crowd is wrong again, then get left behind where later they chase, at near the top.
     
    #8691     Apr 15, 2025
    Sekiyo likes this.
  2. Sekiyo

    Sekiyo

    Next play is watching GLD on the sidelines :D
    upload_2025-4-16_19-23-43.png
     
    #8692     Apr 16, 2025
  3. Daal

    Daal

    There is quite a long piece about gold in the current edition of the Economist magazine, in addition to the US Dollar being on the cover
    [​IMG]

    To me that is quite troubling for the gold trade, the Economist is a notorious contrarian indicator, quite reliable also. Buy low, sell high, its time to sell high. I first bought gold back when it was at $1100 more than a decade ago and was shilling it as recently as shortly after the Ukraine War when Biden implemented SWIFT sanctions and seized Russia's UST bonds (price was around $1800-1900). At $3200-$3300 with these contrarian indicators and the increasing chance the WH will sell gold to buy bitcoin, its clear cut case of an exit
    Especially when peoples reasoning for not selling is "but its going to to higher near term", in my experience, there is nothing more medium to long-term bearish than to hear that
     
  4. Sekiyo

    Sekiyo

    Damn you were serious ?!