24 Feb 2020 A top was found. For now.

I watched this top evolve with confidence it would continue. 7 years of trading and a great chart gives you high probability of being with the price. It has been racing to meet a top and once it was met it’s game over. This is a great lesson for new traders as these strong movements are normally supported by industry media creating a narrative that the momentum will continue. WRONG. PS I was caught by the same reversal in 2014 which cost me a lot of real money.

 

a top feb 20

Past week summary 10 May 20

Despite the fact that we are in a “crisis”, national debt has increased worldwide and the Fed is holding rates – gold is not rising. We actually finished the week only slightly up. Strange considering the mood. We are still glued to 1700 which we first hit on Mar 5 so two months have gone without any increase – and there appears to be real resistance to the price rising.

At any rate this week the price moved down and then up on Wed/Thursday giving us the opportunity to double a $2000 account each time. So look for the trading signals. They are there as I show in my training. In saying this it should be noted that we are rising from the 24 daily ma and this has shown to be a launch point for the price. So look for that to occur on the hourly chart as an entry.

The US Jobs Disaster 2020

https://www.investing.com/news/economic-indicators/us-private-sector-sheds-record-202-million-jobs-in-april-adp-2162501

March’s figure was revised to show job losses of 149,000 from the decline of 27,000 that was initially reported.

“Job losses of this scale are unprecedented. The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession,” said Ahu Yildirmaz, co-head of the ADP Research Institute.