The dollar hasn’t yet changed direction but may do so overnight. Just be wary as a trader and keep in mind that gold can buy up fast at this time of the year as all the data is in for the year and buyers see an opportunity to make hay while the sun shines. We are definitely seeing support on the 12hrma on the daily chart but must remain vigilant.
and as expected for many moons the .25 was given. The dollar rose and gold dumped $7 from the high of yesterday. I’m now issuing daily trading signals (not everyday but on the day a signal prints) for greater ease of trading and less stress so will need to wait for today to print on the chart before I give a sell signal but I fully expect to see one and the price to sell for a number of days. Then find support over Christmas Day and bounce up off a significant daily moving average. This will be sent as a trading signal of course. In the early New Year we will receive a very powerful trading signal which will give us greater confidence to trade upward. With the uncertainty of further rises, the fear of recession (inverted curve) and a shaky Dow gold will begin to increase in value and this could happen very fast. 2019 will be the year to be on your toes.
Everyday is a test for a trader. Your judgement, attitude, perceptions and performance are being tested. You have to be on your game. Fit and alert. Being in synch with the market in the micro and macro trends is your goal. So start with a run. Clear the mind and train the body to work for you and your goals. Life is a balance between chaos and control. Maintinaing control takes work and effort. Work hard. See the profit.
Which will influence the Fed interest rate decision in two weeks. I’m expecting the price to fall to that date. This week expect two signals for trading to take profit within three hourly candles.
Thus constant pressure on the Dow will start to build upward support for gold.